Credit Union Latest News

Using data aggregation subsidiary Finicity, the card network will allow its bank and credit union partners to offer installment loans directly to consumers, who can repay from checking and savings accounts.

Billions in funds earmarked for credit unions under the Treasury’s Emergency Capital Investment Program and other federal programs couldn’t be used to meet risk-based capital requirements without the proposed change.

Only one credit union has answered the National Credit Union Administration's call for feedback on how the industry views and uses cryptocurrencies and blockchain technology.

Anthony Taylor was recently honored for his hard work in helping build Ascend into one of the largest credit unions in Tennessee. Taylor says he jumped at the opportunity to give back to the credit union that decades earlier welcomed him and other Black consumers when they struggled to find affordable credit elsewhere.

Credit unions expanded perks and benefits for workers whose personal lives and jobs were rocked by the pandemic. The added costs are bearable and will be necessary to keep employees over the long term, executives say.

Rodney Hood, a member of the National Credit Union Administration's board, detailed plans, such as the formation of an Office of Innovation and Access, to foster collaboration between credit unions and the tech community.

Pentagon Federal Credit Union bought its own Cessna, citing safety considerations and the cost of commercial air travel during the pandemic. But the purchase has fueled bankers' criticism of how credit unions use their tax exemption.

Some are taking extra measures, such as forming panels with minority representation to interview job candidates, to ensure that their recruitment practices don't exclude underrepresented groups.

In the face of widespread power outages and supply shortages, credit unions are doing everything from offering low-interest emergency loans to providing bottled water and hot meals.

The Edwardsville, Illinois, credit union has agreed to merge with South Division Credit Union in Illinois. The deal comes shortly after Scott agreed to buy Tempo Bank.