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...
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 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...
Cybercrime Costs Global Economy $860K Per Evil Internet Minute
Cybercriminals cost the global economy $454 billion last year. In a single evil internet minute, malicious activity costs international commerce $858,153 and victimizes 1,080 people, according to San Francisco based RiskIQ. Despite businesses’ best efforts to...
Partner Colorado CU Launches Cannabis Banking CUSO
Credit unions looking to enter the cannabis banking market can now turn to a CUSO for help rolling out and managing a cannabis banking program – something that is known to be a labor-intensive, compliance-heavy task. Partner Colorado Credit Union today...