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?

The NCUA Staff Draft 2026-2027 Budget

AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA's staff draft “detailed business-type budget” for 2026 and 2027 was made available for public review in the Federal Register as required by federal statute on September 29, 2025 as docket number...

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By Devin Hughes SVP Lender PartnershipsLendKey Against a backdrop of decreasing interest rates, emerging competitors, and federal reforms that upend old certainties, the stakes for credit unions heading into their 2026 planning sessions are as high as they have been...

The NCUA Staff Draft 2026-2027 Budget

AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA's staff draft “detailed business-type budget” for 2026 and 2027 was made available for public review in the Federal Register as required by federal statute on September 29, 2025, as docket number...

CFPB Wants to Know How Well It Engages With Public, Stakeholders

The CFPB is asking for public comments on how well it engages with the public and stakeholders, including the activities of its Credit Union Advisory Council. The request for information in assessing its public and non-public is one of several Acting Director Mick...

Former Michigan CEO Admits Embezzlement

Stanley Hayes, former president/CEO of the liquidated Valley State Credit Union, is scheduled to be sentenced in April after he admitted to embezzling $710,000 from the Saginaw, Mich. cooperative. Michigan Attorney General Bill Schuette said Hayes pleaded guilty in a...

Florida CUs Rally for High School Shooting Victims & Families

While the mood throughout south Florida remains somber following the shooting deaths of 17 people at Marjory Stoneman Douglas High School in Parkland, Fla. on Valentine’s Day, credit unions throughout Broward County are rallying behind the school community and...

Professionals Make Moves at Credit Unions, CU Direct

This past week, employees at five credit unions began new positions. Plus, auto lending CUSO CU Direct promoted an executive. WEST The $1 billion Credit Union 1 in Anchorage, Alaska promoted James Wileman from COO to president/CEO. Wileman joined Credit Union 1 as...

Cyber Hacks Cost Up to $109 Billion in 2016, U.S. Estimates

Malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016, the White House said Friday. The estimate comes in a Council of Economic Advisers (CEA) report on the impact of cyber attacks on U.S. government and industry. The...