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As credit unions embrace the transformative power of Artificial Intelligence (AI) and Large Language Models (LLMs), it becomes essential to construct robust AI policies. The following brief will delve into the realm of AI policy, uncovering the top five critical considerations for credit unions.
As the use of digital channels continues to grow for credit unions, conversational artificial intelligence (AI) technologies provide an opportunity for improved service delivery and the potential for new service offerings such as financial advice.
How can credit unions differentiate on trust? This report reviews a key area where trust is increasingly at a premium: the use of consumers’ data in algorithmic credit scoring. With this change comes new questions and concerns, especially about the potential for bias and discrimination in algorithmic underwriting.
Many credit unions already use AI-based technology, and that number is growing. This report provides an introduction for credit unions wanting to better understand AI and the ethical and legal concerns that arise from its use.
Effective board governance is essential for credit union sustainability and health. From board evaluation practices to board composition, Filene has curated resources for credit union leaders seeking to learn more about strategies to improve board governance.
A board of directors can make or break the success of a credit union. Yet credit unions sometimes find board governance lacking or inadequate for meeting their challenges. This report provides research-based recommendations for improving board composition, including formalizing recruitment and evaluation to help credit unions leverage more from their boards of directors.
As credit unions embrace the transformative power of Artificial Intelligence (AI) and Large Language Models (LLMs), it becomes essential to construct robust AI policies. The following brief will delve into the realm of AI policy, uncovering the top five critical considerations for credit unions.
As the use of digital channels continues to grow for credit unions, conversational artificial intelligence (AI) technologies provide an opportunity for improved service delivery and the potential for new service offerings such as financial advice.
How can credit unions differentiate on trust? This report reviews a key area where trust is increasingly at a premium: the use of consumers’ data in algorithmic credit scoring. With this change comes new questions and concerns, especially about the potential for bias and discrimination in algorithmic underwriting.
Many credit unions already use AI-based technology, and that number is growing. This report provides an introduction for credit unions wanting to better understand AI and the ethical and legal concerns that arise from its use.
Effective board governance is essential for credit union sustainability and health. From board evaluation practices to board composition, Filene has curated resources for credit union leaders seeking to learn more about strategies to improve board governance.
A board of directors can make or break the success of a credit union. Yet credit unions sometimes find board governance lacking or inadequate for meeting their challenges. This report provides research-based recommendations for improving board composition, including formalizing recruitment and evaluation to help credit unions leverage more from their boards of directors.
