A new proof-of-concept demonstration showcased last week by research organization CULedger suggests blockchain-like technology could soon wield significant power in verifying identities and clamping down on fraud at credit union call centers. The prototype hinges on...
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?
Lawsuit Alleges Wrongful Termination by CU Based on Sexual Orientation
A former assistant branch manager claims in a lawsuit that she was fired from the $829 million Park Community Credit Union in Louisville, Ky., because she is gay. In a lawsuit filed in Jefferson Circuit Court on May 12, Penelope Hudson alleges she was...
Bankers Need A Reality Check
Once again, the American Bankers Association asserts that regulatory relief for credit unions represents a threat to the $16.2 trillion banking industry, coining a new catchphrase – “unsanctioned growth” – to characterize the alleged hazards of...
Waters to Agencies: Hensarling Doesn’t Speak for Me
In yet another sharp policy clash with House Financial Services Chairman Jeb Hensarling (R-Texas), panel ranking Democrat Maxine Waters (D-Calif.) told federal agencies today that she considers her communications with them subject to federal open records statutes....
Black Hills FCU Moves Toward Conversion Kickoff
The $1.09 billion, Rapid City, S.D.-based Black Hills Federal Credit Union prepares for the kickoff of its new core implementation process in the third in a series documenting its system overhaul. This inside look previously followed BHFCU's pre-conversion choices,...
Using Tech to Survive and Serve
The $80 million, York, Penn.-based Heritage Valley Federal Credit Union learned to survive against bigger financial institutions by supplying innovative services to members, and educating and lending to those underserved by other options. “Our tag line is...