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...

Credit Unions Have Options to Address Appraiser Shortage: NCUA

Federal agencies responded to concerns about the shortage of state-certified and -licensed appraisers Wednesday, saying that financial institutions have two options to help ease the timely consideration of loan applications. The agencies said the concerns about the...

NCUA Bans 4 Former Credit Union Employees

The NCUA said Tuesday it banned three former credit union employees who were convicted of embezzlement, theft or fraud.  The federal agency also banned a fourth former credit union employee who was not convicted of a crime but consented to a prohibition order...

Job Misery Can Cripple Retirement

Miserable at work? It could cost you big time if you jump ship too early to retire and get away from it. So says a Motley Fool article on Madison.com. Citing a Conference Board report that more than half of Americans are “actively unhappy at...

Weak Cryptographic Policies Increase CU Cyberrisks

Many financial services organizations fail to enforce strong cryptographic protection policies in their DevOps environments, sometimes at the expense of security, data privacy and compliance in areas such as mobile banking. That is a finding by Salt Lake City,...

New Evidence of Fiduciary Rule’s Harm, Chamber Report Says

The U.S. Chamber of Commerce charges in a just-released report that new data coming out of a recent Department of Labor comment period on its fiduciary rule proves the rule is hurting small retirement savers. The report, “The Data is In: The Fiduciary Rule Will...

Becoming More Appealing to Our Fintech Friends

I last opined on the difficult marriage between credit unions and fintechs and concluded that it often leads to divorce because of very different motivators — hyper growth for-profit venture companies versus a conservative not-for-profit industry. Today I want...