Credit Union Latest News

Some in the industry are planning in-person events, but the largest meetings are still unlikely to reconvene for a while.

The credit union expects to open at least eight branches across the country in the months ahead, about half of what it normally adds to its brick-and-mortar network in an average year.

Todd Harper, a Democrat, says he will continue his efforts to increase the agency's consumer advocacy role, despite opposition from the industry and two Republican board members.

Intensifying competition from banks could persuade large credit unions — particularly those with more than $1 billion of assets — to join forces in 2021.

Under a proposed rule change, credit unions would no longer need to seek pre-approval from the regulator before entering into interest rate swaps, speeding up transactions for some of the industry’s biggest institutions that already hold over 80% of total assets.

After a slowdown in 2020, inventory shortages and other factors could make the months ahead a grind for many lenders.

In a party-line vote, the agency issued a proposal that would redefine a "complex" credit union.

A Democratic majority in Washington may help advance a number of key legislative issues for the industry, such as passage of a national data security standard. However, it could also lead to a renewed focus on consumer protection laws.

Industry groups say the coronavirus has highlighted additional risks faced by institutions without a diverse member base.

Despite limiting on-site visits and adding more self-service channels, the industry is forging ahead with plans for hundreds of new or expanded brick-and-mortar locations.