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....
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?
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The federal Credit Union Act is outdated and needs to be modernized, CUNA officials said Monday, in announcing a comprehensive effort to send a plan to Capitol Hill during the next Congress.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...
Credit Unions End 2017 With Hires, Recognitions
Credit unions kept busy until the close of 2017, with eight credit unions announcing new hires, promotions, donation efforts, staff and credit union accomplishments, and retirements. WEST Employees from the $7.6 billion Alaska USA Federal Credit Union in Anchorage,...
Trellance Divests CSCU
The Tampa, Fla.-based Trellance announced today that it has divested payments processor CSCU, meaning the two are now separate businesses. The move comes just days after CSCU announced on Dec. 18 that it had formed Trellance, which it said it created “to focus...
Michigan Credit Union Signs Naming Rights Deal
The $541 million Frankenmuth Credit Union announced last week that it signed 10-year naming rights deal for a 2,500-seat arena in Birch Run, Mich. Financial terms of the deal were not disclosed. “We have two branches, a school branch and thousands of loyal...
Small Businesses Overpaying for 401(k) Plans: Study
Small-business owners and their employees are overpaying for their 401(k) plans, according to a new study from America's Best 401k. According to the report, most 401(k) studies are based on publicly available data required to be filed by plans with...