Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
Executives and directors from across the industry discussed their concerns for the industry and priorities for the next year during this year's NAFCU and CUNA annual conferences.
Credit union executives discussed serving the legal marijuana and hemp businesses during NAFCU's annual conference in New Orleans, including vastly different motivations for serving the industry.
As the National Association of Federally-Insured Credit Unions' annual conference kicked off, President and CEO Dan Berger emphasized the trust credit unions have built with members. But there have been a few recent stumbles.
Median annual membership growth stood at just 2% at the end of the first quarter, though delinquencies dropped and ROA got a boost.
Loans grew amid a surge in deposits, while membership surpassed 117 million and industry consolidation continued.
Credit unions collect more in fee income than their banking counterparts. That could become problematic as the political winds and consumer preferences shift.
Regulators placed the $3 billion-asset institution into conservatorship less than a year after the New York City-based CU fired President and CEO Kam Wong in the wake of embezzlement charges.
Recent letters from NAFCU and CUNA called on the Consumer Financial Protection Bureau to provide a carve out in its payday lending rule for loans made by credit unions.
Jacqueline Howard's personal interest in helping close the wealth gap prompted her to steer Ally Financial toward a more concerted effort on this front.
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Credit unions in Arkansas and Florida argue that allowing the industry to take deposits from cities and other public entities would help with funding and control for risk.
In a post to a social networking site, Rachel Pross, chief risk officer at an Oregon institution, described unwanted touches and inappropriate comments by male executives and directors at the event.
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A new initiative aims to help small credit unions survive and thrive, but a plethora of trends are working against them.
In 2017, the National Credit Union Administration board approved provisions to make mergers more transparent. But one of those changes has become a casualty of the government closure.
Credit union and bank executives say the federal work stoppage hasn’t hit business lines yet, but that could change if things drag on much longer.
A number of healthy credit unions have undertaken “mergers of equals” to bolster long-term prospects. But those institutions are opening themselves up to unique risks and challenges as a result.
Despite strong performance in the industry overall, analysts expect regulators to shutter more institutions in the years ahead.
These CEOs don't just run their credit unions, they're also the chief executive for their community -- and despite a desire to serve, they face some unique challenges.
Last week the car manufacturer said it would cut jobs and close factories. Now credit unions in the affected areas are considering how the news will affect their members and themselves.