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?

Renewal of Agency Information Collections for Comments Request: Proposed Collections

AGENCY: National Credit Union Administration (NCUA). ACTION: Notice and request for comments. SUMMARY: The National Credit Union Administration (NCUA) will submit the following information collection requests to the Office of Management and Budget (OMB) for review and...

Community Development Revolving Loan Fund

SUPPLEMENTARY INFORMATION: Table of Contents Basic Information Eligibility Program Description Eligible Activities Application Contents and Format Submission Requirements and Deadlines Application Review Information Award Notices Post-Award Requirements and...

Beyond Processing | Core As A Strategic Enablement Platform – NACUSO

By Jennifer BerryVise President of Core Conversions and ConsultingSynergent For years, credit unions have viewed the core primarily as a transactional processing system—the operational engine responsible for maintaining accounts, posting transactions, balancing...

CUs Could Cash in on Apple’s Big Move Into P2P

Apple announced Monday at its Worldwide Developers Conference that its new mobile operating system, iOS 11, will allow users to make person-to-person payments directly through the instant messaging feature on their iPhones, iPads and Apple Watches.  The move puts...

Loan Losses Cut Credit Union Profits

Credit unions’ net income inched up 2.6% in the first quarter as loan loss provisions rose sharply from a year earlier. The $2.3 billion earned in the first quarter represented 0.71% of total average assets, down from 0.75% in 2016’s first quarter, and the...

Preparation Is Key to Avoiding the Ravages of Ransomware

Ransomware attacks continue to plague businesses large and small. With impacts on all kinds of organizations — from independent consultants to leading health care providers, colleges to online gaming sites — employers must be alert to the dangers of...

Court Rejects CU Manager’s Appeal for Lighter Sentence

A convicted credit union business relationship manager argued he should have received a lighter sentence because he used some of the millions in fraudulent loans to keep a struggling company afloat and pocketed just under $200,000 for himself. A three-judge panel of...

Cognitive Awareness for Better Decisions

Emotional intelligence, self-awareness and commitment to understanding others are traits of a good leader. These leaders make sound decisions based on the best available data. But what if the natural automatic workings of the mind interfere with these traits? The...

Breaches Setting Blistering Pace, Double at FIs

News of the second Kmart credit-card breach in three years at the retailer and the number of breaches at financial institutions doubling this year over the same period 2016 should raise concerns. In the second of two-articles, security experts provide strategies to...