A company that sells insurance and financial services to credit unions has bought a 30% stake in a CU Direct subsidiary that offers similar services. Allied Solutions, based in Carmel, Ind., is buying a stake in CU Direct’s Vero LLC subsidiary, which sells...
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?
Poll: Credit Unions Care, but ‘Have Skimpy Offerings’
People believe credit unions care more about their customers than banks do, but banks are still getting their business, possibly due to widespread perceptions that credit unions have skimpy offerings, according to new data from Harris Poll. The study,...
Utilities Employees CU & ClearChoice FCU Announce Merger
On Thursday, Utilities Employees Credit Union and ClearChoice Federal Credit Union announced an agreement to merge after unanimous approval by both boards. Utilities Employees Credit Union is a $1.2 billion financial institution that serves 45,000 members nationwide...
NCUA Board Seeks Comment on Closing Stabilization Fund
The NCUA board on Thursday agreed to seek comments on a plan to close the Temporary Corporate Credit Union Stabilization Fund at the end of September—a move that eventually could result in a Share Insurance Fund distribution to federally insured credit unions of...
Sunmark FCU Recognized for IT Excellence
Latham, N.Y.-based $540 million Sunmark Federal Credit Union announced its selection of a 2017 CIO 100 award, which recognizes the creation of business value through the effective and innovative IT use. Each year, CIO identifies and honors 100 organizations worldwide...
Puff or Pass? Cannabis Business Banking Remains Risky
The road to federal marijuana legalization remains a long, treacherous and perhaps even impossible one, yet some credit unions are continuing to fight for the industry’s business owners by offering them banking services. But is it worth the risk? Last week, I...