CUSOs are innovation platforms for credit unions, allowing credit union owners to share risk and expenses when building better and sometimes revolutionary systems, products or channels to serve their members. Fintech firms are the very essence of innovation and...
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?
NYCUA-SimplyCredit Partnership Combats Online Disruption
A new strategic partnership between the New York Credit Union Association and the San Francisco-based fintech company SimplyCredit aims to help New York’s credit unions combat online disruption and accelerate lending growth. Through the partnership, SimplyCredit...
Credit Unions Gain Record Share of Plastic
Credit unions in February held their largest share of the nation's credit card debt ever as the nation’s credit debt remained near record levels, according to the Federal Reserve's monthly Consumer Credit report released Friday. Credit unions held $52.3 billion...
Xceed Financial, Elevations CU Hire Mortgage Professionals
This past week, six credit unions announced new hires, promotions and appointments. Plus, one credit union mourned the passing of its CEO and PSCU promoted an executive. WEST The $1.8 billion Numerica Credit Union in Spokane, Wash., hired Josh Melcher (pictured)...
New Glass-Steagall Bill Pushed by Sens. Warren, McCain
A bipartisan group of Senators said Thursday that they plan to reintroduce the 21st Century Glass-Steagall Act just as President Donald Trump’s economic adviser Gary Cohn voiced support for the move. Elizabeth Warren, D-Mass., along with...
Increasing Auto Lending Fraud Risk Remains Hidden
Auto lending fraud has been rising for several years, but it remains hidden in credit losses, according to new research by a San Diego, Calif-based technology firm. After 2016 auto lending originations soared to historic high levels, the downstream effects are now...