CO-OP Financial Services is doling out a $26.1 million patronage for fiscal year 2016, bringing the Rancho Cucamonga, California-based CUSO’s lifetime payouts to $393.7 million since becoming a cooperative in 1996. “This latest year’s healthy...
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?
Major Shift Possible in Financial Rule-Making
Major rules proposed by financial regulators, such as the NCUA, would have to be approved by Congress before they could take effect, according to a draft of the Financial Services Chairman’s Financial CHOICE Act released Wednesday. The draft, totaling almost 600...
The Fear of Lending
Deregulation is now a word my teenage sons understand. They’ve heard it enough from the news and my mouth. What they don’t understand is how a washing machine works. But that’s another issue for another time. There’s an excitement around the...
McWatters Optimistic of Corporate Stabilization Fund, Share Insurance Fund Merge
NCUA Acting Chairman J. Mark McWatters said Thursday that he remains optimistic that the agency will be able to fold the temporary corporate stabilization fund into the Share Insurance Fund this year. “I’ve not seen anything on the accounting side that...
Leominster CU to Help Low-Income Homebuyers
Leominster Credit Union will distribute a $110,000 grant to low-income homebuyers in Massachusetts who are buying a home for the first time or are a displaced homemaker. Eligible homebuyers can receive up to $11,000 in down payment and closing cost assistance. The...
Credit Union Sued for Discriminatory Lending Practices
A fair housing organization is claiming the $3.7 billion Bellco Credit Union discriminated against women by denying them mortgages because they were on maternity leave, according to a federal lawsuit filed in U.S. District Court in Denver last month. In a statement...