I’ll admit it: I am the credit card holder no financial institution wants. I pay my credit card balances in full every month, so they’re not getting any money from me in interest or late fees. And last fall, I started a new hobby: Applying for credit cards...
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?
More Than 1.1 Million Federal Student Loan Defaults In 2016
Analysis of Department of Education data reveals a 17% increase in 2016 in the number of Americans in default on federal direct loans serviced by companies hired by the federal government. “3,000 preventable student loan defaults each day in America is 3,000 too...
Southeastern League Announces Dues Rebate
For the fifth consecutive year, the League of Southeastern Credit Unions & Affiliates will issue full-dues paying credit unions a rebate in April. This year’s rebate will be 5.6%, equivalent to $202,623. While the average dues rebate is approximately $734...
Reintroduction of Financial Choice Act Coming in ‘Weeks’: Hensarling
House Republicans will “soon put forth” the Financial Choice Act, legislation designed to repeal and replace the Dodd-Frank Wall Street Reform and Consumer Protection Act, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, said...
Half of CUs See Membership Dip in 2016, Shares & Deposits Grow in Q4: NCUA
Federally insured credit unions experienced continued improvement in nearly every category during the fourth quarter of 2016 even though at the median, membership declined 0.1%, the NCUA said Wednesday. Nationally, median loan growth was 4% during the year ending in...
New Tools to Manage EMV Chip Card Inventory: TMG
Payments processor TMG Financial Services announced Wednesday the availability of a new web-based tool to help credit unions better manage their plastic card stock. TMG, headquartered in Des Moines, Iowa said in a statement that this task has become more complicated...

