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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?
Massive Winter Storm Forces Credit Unions to Close
League offices and dozens of credit unions from the Carolinas to Maine were forced to close Thursday as a massive winter storm generated heavy snowfalls, below zero temperatures and hurricane-force winds that are expected to cause widespread power outages. The...
2018 Needs Your Credit Union’s Help
Even Pope Francis didn’t seem to enjoy 2017. During his New Year’s Eve prayer service, he said, “We humans in so many ways ruined and hurt it [2017] with works of death, with lies and injustices.” Yikes! I use this quote as an example, not to...
Navy Federal Rebuilds Its Business Lending Engine
The nation’s largest credit union is a relatively small player in business lending, but a vender announcement Wednesday signaled Navy Federal Credit Union has aspirations to expand its portfolio, focusing on small businesses. Navy FCU ($83.7 billion in assets,...
NCUA Approves 25 Mergers in November
Among the NCUA’s approved 25 mergers in November, four credit unions were consolidated because of their poor financial condition, including a Los Angeles faith-based cooperative that posted delinquency rates ranging from zero to 100% for more than five years....
CUNA to Push for ‘Modernizing’ Federal Credit Union Act
The federal Credit Union Act is outdated and needs to be modernized, CUNA officials said Monday, in announcing a comprehensive effort to send a plan to Capitol Hill during the next Congress. “It’s been about 20 years since the Credit Union Act has been...