Credit Union Latest News

From avocado-toast debit cards to pumpkin spice-themed loans, financial institutions are running culinary initiatives to bring consumers to the table.

Verve has offered its pumpkin spice loan since 2014 as part of a full menu of themed products.

U.S. credit unions gained their largest total chunk of the vehicle lending market in the past five years, at more than 25% in the second quarter, by underpricing their rivals. Banks are still ahead, but just barely.

By offering financial education through local crisis centers and community groups — and following through with access to credit — many credit unions are building trust with people who had been wary of working with mainstream institutions.

The National Credit Union Administration continues to distribute recovered funds to credit unions across the country, but some in North Dakota believe they are being disregarded and deprived of more than $10 million.

The country's agricultural industry is struggling with rising costs, disrupted shipping routes and bombed-out crop fields. The Ukraine Agricultural Loan Reimbursement Program offers to ease the pain by covering 10% of principal payments for ag loans.

Pinnacle Credit Union in Atlanta, RVA Financial Federal Credit Union in Richmond, Virginia, and MUNA Federal Credit Union in Meridian, Mississippi, are combining into a single organization as a way to pool resources despite their lack of proximity.

Banks make up just 10% of the client base for Eltropy, which hopes to increase that number through two tech acquisitions that add video banking and artificial intelligence capabilities.

The institution took the lead spot in American Banker's annual ranking of Best Credit Unions to Work For in part by giving employees freedom and flexibility in how they do their jobs.

New policies, aided by partnerships with local organizations, are helping credit unions make significant progress on DEI.