Growth strategies

2016 will go down as another wildly successful year for credit unions, but it wasn't without its challenges.

Charter Oak Federal Credit Union has awarded more than $487,000 in annual $100 cash bonuses to its Gold Rewards members this December, making it the largest one-time bonus payout in the program's history.

NCUA’s recent field of membership ruling could massively expand credit union membership – provided CUs have the technology to capitalize on the opportunity.

The credit union has returned more than $8 million to members since 1996.

The two institutions will officially join forces on Jan.1, 2017, though full integration of accounts, products and services is not expected to be completed until May.

The Nebraska CU League says membership at credit unions in the Cornhusker State has risen by more than 15% over the past five years.

The Florida-based credit union’s new $12 minimum hourly wage will be nearly 50% higher than the state-mandated $8.10 per hour, and puts it in line with a growing number of credit unions that are bringing their pay structures closer to living-wage levels.

The partnership between the two groups aims to raise awareness and provide additional support for WOCCU’s global work.

Alaska USA Insurance Brokers in Anchorage has agreed to sell its commercial insurance and employee benefits books of business to Acrisure in Caledonia, Mich.

The Consumer Financial Protection Bureau is facing renewed pressure by consumer groups and think tanks to move forward with a plan that would rein in overdraft programs, but that product has been a boon to credit union revenue streams in recent years.