A Houston CUSO has expanded its services to originate mortgages for credit union customers. The new service by eCU Mortgage is designed to streamline the mortgage process and deliver more revenue to credit unions when loans are sold on the secondary market. The CUSO...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
Trade Groups Want to Convert CFPB Into a Commission
Some 22 trade groups—including CUNA and NAFCU—are asking congressional appropriators to convert the CFPB into a five-member bipartisan commission whose nominees are confirmed by the Senate. “A Senate confirmed, bipartisan commission will provide a...
NCUA Conserves Riverdale CU in Alabama
The NCUA conserved the $76.1 million Riverdale Credit Union in Selma, Ala. Thursday for unspecified safety and soundness issues, according to the federal agencies prepared statement. Though Riverdale posted a net worth of 12.58% at the end of the first quarter, its...
As Banks Brake, Credit Unions Gain Bigger Share of Auto Loans
Credit union lending rose 11.8% in April with new car loans and member business loans growing twice as fast as other sectors, CUNA Mutual Group reported Thursday. Real estate grew at a slower pace as higher interest rates discouraged refinancing and purchase loans and...
FOM Rules Follow Law, NCUA Tells Court
The NCUA is asking a federal judge to reject the American Bankers Association challenge to the agency’s recent field of membership rules, contending that the new regulations do not violate federal law. Congress gave the agency discretion in defining fields of...
Another Slow Month for Credit Union Mergers
The NCUA approved only 11 mergers in April, the second lowest number of consolidations approved so far this year. The 11 mergers was the lowest number of consolidations for the first month of the second quarter over the last nine years. In the last four Aprils, there...