Credit Union Latest News

Through its partnership with Visa, the California credit union lets members receive digital replacements for lost cards almost instantly and add digital cards to mobile wallets like Apple Pay.

Business and regulatory pressures were already weighing on aging executives before the onset of the pandemic led many to delay retirement plans. Now as the crisis eases, an increasing number are finally stepping down.

The new omicron strain is prompting more financial institutions to extend mask mandates in the workplace and remote work schedules.

College athletes can now profit from their name, image and likeness, and some local lenders have been quick to sign them on as spokespeople. But it's still unclear whether these young sports figures will raise the financial institutions' profile enough to justify the cost.

Alliant Credit Union in Chicago is building a database of Consumer Financial Protection Bureau enforcement actions to analyze patterns over time and help it formulate a compliance program that will withstand political swings in Washington.

The National Credit Union Administration backed off measures that would have let credit unions sign up members in areas where they have ATMs and online services, but no branches. The move was seen as a partial victory for banks, though the matter could ultimately be decided by Congress.

The expectation that people will want social distancing and ever-expanding digital banking options well after the pandemic passes is informing branch architecture at banks and credit unions.

Northern Hills Federal Credit Union in South Dakota is one of several institutions testing tools that can deliver faster loan decisions, an edge they need against digital upstarts.

Financial institutions say it would require them to overhaul their payments technology, deprive them of revenue and force them to pass added costs on to merchants and consumers.

The White House's latest budget proposal slashes funding for a program that would allow the Small Business Administration to make direct 7(a) loans. Lenders say the idea is still misguided.