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,...

Square: Big Name in Fintech Files for Bank Status

San Francisco-based Square, which offers card readers and a payments app, has confirmed to CU Times that is has filed an application for an industrial loan charter with the FDIC.  The company is the latest in a string of fintechs to make the move toward bank...

NCUA Grants Charter for Clean Energy FCU

If anything, the name of a new credit union ----- Clean Energy Federal Credit Union ---- sounds like it is poised to serve the rising consumer demands for renewable energy products. The NCUA granted a federal charter and share insurance fund coverage for the Boulder,...

Equifax Breach a Game-Changer for CU Fraud

Credit unions should immediately evaluate their credit reporting practices, find ways to get better breach data and prepare for a spike in fraud in the wake of Equifax’s enormous data breach, two experts have warned. The Equifax breach, announced Sept. 7,...

Irma’s Aftermath Continues to Take Toll on Florida CUs

The aftermath of Hurricane Irma continued to take its toll on Florida’s credit unions, employees and members as they headed into the weekend with no power or running water, the League of Southeastern Credit Unions reported Friday. The greatest challenge for the...

Democrats Press DeVos to Renew Cooperation With CFPB

Calling the CFPB a crucial watchdog of student loan servicers, some 39 congressional Democrats are pressing Education Secretary Betsy DeVos to again share servicer information with the consumer agency. “Contrary to the department’s assertion, Congress has...