Despite the negatives overshadowing payday lending, often seen as predatory, primarily because of high interest rates that hover around 400%, one survey paints a different picture of payday borrowers. “It is thought that the nature of the payday loan market...
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?
House, Senate Republican Plans Preserve CU Tax Exemption—So Far
Although the House and Senate Republican tax reform bills contain huge differences, the two bodies agreed on at least one issue—that credit unions should remain tax exempt. Senate Republicans released the outlines of their bill on Thursday. That same day, the...
Compensation or Validation: Which Matters More to Employees?
Having a purpose at work – and being validated for that by both managers and peers – trumps even pay in the minds and hearts of workers, according to a report from Globoforce’s WorkHuman Research Institute, “Bringing More...
Gen Z: Financially & Digitally Savvy, They Want Traditional Services Too
Research shows a majority of Gen Z are looking to FIs as an "important source of personal finance information."
Regulator’s Order Shuts Down CU’s Website
Since an Illinois regulator issued a cease and desist order last month to shut down the 1st Provision Credit Union, the supposed cooperative no longer has a site posted on the web though its Facebook page was still operating as of Thursday. The Illinois Department of...
CUs Reckoning With Advent of Apple Pay Cash
Apple’s forthcoming Apple Pay Cash will likely become the next in a long line of P2P offerings that are forcing credit unions to think about the future of their noninterest income, industry experts say. Apple Pay Cash, which launched in public beta this...