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?

NCUA Draft 2027-2028 Budget

AGENCY: National Credit Union Administration (NCUA) SUMMARY: NCUA's draft “detailed business-type budget” is being made available for public review as required by federal statute. The proposed resources will finance the agency's annual operations and capital projects,...

Conversion to State-Chartered Credit Union

AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) solicits public comment on a proposal to remove a regulatory provision regarding the process for maintaining federal share insurance following the conversion of a federal credit union...

Nonconforming Investment Special Reserve

( printed page 66532) AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) is proposing to amend its regulations governing the requirements for federal share insurance. This action would remove the requirement for federally insured,...

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...

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...

NCUA Board to Consider Budget Nov. 16

The NCUA board will vote on its proposed 2018-2019 budget when it meets Nov. 16. The budget, outlined last month, proposed a 2018 increase of $6.1 million-- a 2.1% increase from 2017.The agency also projects a 2019 budget of $302.8 million, a $4.6 million increase...