Credit Union Latest News

State legislators plan to allow credit unions to serve more people below the poverty line, including those living in banking deserts, but the state's banks say the credit unions could use the legislation to dodge field-of-membership limits.

Kaua'i Federal Credit Union in Lihue is launching an "economic resiliency center" for members in the Kapa'a community. It hopes to support minority-owned businesses throughout the area by providing access to housing resources and other funding.

The National Credit Union Administration is seeking the perspective of credit union leaders in areas vulnerable to natural disasters to gauge the true scope of environmental changes and to inform best practices for managing their impact.

In April's roundup of American Banker's favorite stories: Investigations of PPP fraud ramp up, U.S. Bank responds to concerns regarding capital levels, what happened to the trend of bank purchases and more.

Joe Evica, who has been employed with the Wisconsin-based insurance firm since March 2019, was terminated on April 4 for allegedly violating company policies.

The volume of bank acquisitions — either by credit unions or community banks — has dropped considerably so far in 2023. Experts, including prospective buyers, cite a combination of ongoing regulatory and economic pressures.

Executives and financial strategists are considering derivatives as a hedge against rising interest rates.

As more potential buyers began inquiring about the availability of QCash, WSECU decided the time was right to offload the credit union service organization it launched in 2015.

More credit unions are diversifying their investments and accessing federal funding from multiple sources to shore up against risk.

Lofty fertilizer and equipment costs are forecast to cut into profits this year. Farmers are expected to seek loans to cover higher expenses, but bankers are likely to be cautious in granting credit given recessionary pressures.