Credit Union Latest News

Amid concerns that fees for overdrawn accounts lead to financial exclusion, the National Credit Union Administration is focusing its attention on such policies this year.

Spike Henderson was most recently a regional president at Equity Bank in Kansas.

Citing customers’ increased adoption of digital services over the past two years, banks are shrinking their physical presence, while also renovating the locations they keep — but credit unions are bucking the trend.

U.S. credit unions that serve Ukrainian immigrants are coordinating efforts to provide aid in Ukraine while bracing for cyberattacks at home.

Here is a rundown of the regulatory, diversity, competitive and other challenges that executives explored at the Credit Union National Association's annual gathering in Washington.

Credit unions and banks need to ask themselves if they're finding ways to say "yes" to consumers who too often hear "no" from mainstream institutions. Otherwise, they perpetuate a system that excludes the poor and people of color and drive them toward nonbanks, said Pablo DeFilippi of Inclusiv Network and other experts.

Just a few years ago, there was no organization for LGBTQ credit union executives and employees, nor was there anyone openly out on the stages of credit union conferences — until Linda Bodie, CEO of Element Federal Credit Union in West Virginia, asked them to make themselves known.

The Credit Union National Association kicked off its first in-person governmental affairs conference in two years with members sharing concerns about data-privacy rules, cryptocurrency, prospects for industry growth and the potential economic fallout of war in Europe.

Community lenders may choose to stop serving small businesses rather than absorb the expense of collecting information on race and ethnicity under a proposal by the Consumer Financial Protection Bureau.

In the year's first instance of a credit union buying a bank, Georgia’s Own Credit Union in Atlanta has agreed to acquire nearby Vinings Bank. The Peach State is home to more than 300 banks, making it ripe for such deals.