Credit Union Latest News

Scams against the elderly are responsible for more than $3 billion in losses each year, according to the Federal Bureau of Investigation. Credit unions say they are seeing more cases, and often the hardest part is getting the victims to admit they've been taken advantage of.

Renée Sattiewhite has played a key role in the African American Credit Union Coalition for more than 20 years. "For me, if credit unions do not embrace DEI, they will die," she said.

In its inaugural Most Powerful Women in Credit Unions listing, American Banker is proud to share the stories of 25 of the women leading the credit union industry through times of rapid and unprecedented change.

When credit union leaders are open to feedback from members and employees of many backgrounds, they can strengthen workplace morale and attract new customers, inclusion advocates say.

Wings Financial Credit Union in Apple Valley, Minnesota, has agreed to buy Settlers Bank in DeForest, Wisconsin. It's the third bank acquisition deal Wings has announced, one of which fell through.

Rising interest rates are forcing credit unions to pay more for deposits while they are sitting on low-yielding loans, according to the National Credit Union Administration's eastern regional director, John Kutchey.

Even the most passionate workers may need a more flexible schedule, a hybrid office or unique training. Credit unions that want to hire and retain those people need to not only meet those needs, but also know when to help them move on to a new employer, experts say.

Nickels, which works with the credit union service organization Reseda Group, is using its $4 million seed funding to give financial institutions more visibility into consumers' debts.

Overdue loans for U.S. credit unions hit 0.42% in June — the lowest level in the industry's history. But some warn of deteriorating credit quality as the economy sours.

The National Credit Union Administration's proposal increases spending by 8.1% from 2022, which agency officials say is still an improvement from the previously approved 12.3% hike.