Recent news of Northwest Federal Credit Union’s successful challenge to an ADA lawsuit may seem like an omen for the industry, but it doesn’t mean similar cases against other credit unions will necessarily end the same way — or that new suits...
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?
Savings Rate Dips to Pre-Recession Low
Consumers ended 2017 by accelerating spending faster than their incomes, squeezing their savings rate to its lowest levels since the eve of the Great Recession. The U.S. Commerce Department reported Monday that personal savings were an annualized $351.6 billion in...
India & Mexico Get an Early Taste of the ‘Bank of Amazon’
As Wall Street worries about someday going up against the “Bank of Amazon,” recent moves by the online shopping Goliath indicate it’s already going in that direction overseas. In places like India and Mexico, Amazon.com Inc. is offering unique...
No Mobile Banking Features? You’re Becoming a ‘Dinosaur’
Data from a new survey by the Federal Reserve Bank of Boston suggests that credit unions that don’t offer mobile banking, blow off mobile payments and ignore the mobile needs of business customers could head the way of the dinosaur. The report surveyed 706...
NCUA: Streamlined Process to Certify CDFIs in Areas Hit by Hurricanes
Low-income credit unions in Florida, Puerto Rico, Texas, and the U.S. Virgin Islands, hit hard by recent hurricanes, are eligible to use a streamlined certification process to qualify as Community Development Financial Institutions, the NCUA announced Friday....
America’s Priciest Housing Market Shows No Signs of Cooling
Housing in America’s most expensive region is going to get even pricier. For all the talk of the U.S. tax overhaul hitting wealthy blue-state real estate, the San Francisco Bay area is set for more home-price gains. Its technology-fueled economy and persistent...