Melissa Angell

A credit union-specific liquidity backstop is far less popular than other options such as the Federal Reserve's discount window. The National Credit Union Administration wants to change that.

Members of Andigo Credit Union in Schaumburg, Ill., have approved a proposed merger into Consumers Credit Union in Gurnee, Ill.

The four-year project aims to track the ways consumers make and manage their money, which have been dramatically altered by the global pandemic.

The credit union regulator released its annual diversity report, which showed that more minorities were in senior roles but examiners remained predominantly white and male.

Many credit union employees are currently working from home to slow the spread of COVID-19 but this can invite more attacks from cyber criminals.

As universities move classes online, there are signs enrollment could be down in the coming academic year. That could have a major impact on credit unions’ private student loan portfolios.

The National Credit Union Administration this week will consider an interim final rule regarding its Central Liquidity Facility and changes to real estate appraisal requirements.

A familiar face is taking the reins at the Baytown, Texas-based credit union, following the departure of its former chief executive earlier this year.

The Fairfax, Va.-based credit union agreed to pay $2.7 million in the class action case, though it did not admit any wrongdoing.

Congress and financial regulators have implemented a number of measures to help the industry survive the financial impact of the pandemic, and a fourth phase of stimulus could be coming.

Car loans make up about a third of credit unions' total lending portfolio, and any drop in that sector could resonate across the entire industry.

CUs in the Eastern European nation were originally shuttered out of fears they could further the spread of COVID-19 but have been allowed to resume operations provided certain safety precautions are met.

Limiting access to branches because of the pandemic has forced executives to re-examine whether they offer enough mobile and online services.

South Jersey Gas Employees Federal Credit Union will merge into Jersey Shore Federal Credit Union on June 1.

The industry still grapples with stopping corrupt employees — the failure of CBS Employee FCU last year highlights that — and now that could become even harder with the pandemic.

A host of industry events have been rescheduled due to the outbreak, with postponements now stretching into mid-May.

The credit union regulator will hold off in-person examinations until at least May and has already pushed back at least one comment deadline as the pandemic worsens.

In contrast, grocery stores and pharmacies saw a jump in spending during the coronavrius outbreak, according to credit union member data examined by the CUSO.

NAFCU and CUNA wrote to the regulator asking for a variety of measures to help credit unions weather the pandemic, including not implementing the CECL standard until at least 2024.

While loans continued to increase, growth was slower than one year previously and membership was flat.