Fintech

POTTSTOWN, Penn. – Tri County Area FCU has signed with INVEST Financial Corp. to provide its members brokerage and investment services.

An angry ATM customer who has been suing banks across the country the past three years over fee disclosures has struck again, filing suit April 12 against Seattle’s Bellingham’s North Coast Credit Union for allegedly failing to post on the outside of the machine fees charged to noncustomers.

A higher provision for credit losses driven by a lower reduction in the allowance for loan losses from a year earlier caused a drop in first-quarter profit for the Card Services and Auto unit of JPMorgan Chase & Co., the issuer announced Friday.

Following in the footsteps of successful class-action suits against banks on overdraft fees, a nonprofit group is targeting credit unions around the country for similar suits.

After weathering a rough patch when the recession hit Michigan, Community Financial Members Federal Credit Union has rebounded and last year saw loan growth of better than 5% and checking account growth of nearly 8%.

In the latest effort by the CU community to target younger people, the Texas league has launched a new program it is calling the "Texas 12."

Credit unions looking to grow their bottom lines should begin investing in ways to market to their current and potential members using sources and channels outside of traditional direct mail, according to Pete Hilger, president of Allied Solutions.

One thing hasn't changed in 2012: it's still all about making loans. But what has changed, noted Kyle Kehoe, VP of sales for CRIF Lending Solutions, is technology that many CUs are not fully leveraging.

The best investments for credit unions right now are in data analytics, small business solutions, risk management and professional services, according to Jerry Nissen, SVP and general manager-real time solutions for FIS.

Michael Kelly is clear about the fact credit unions must concentrate on three things to drive the bottom line near term: extend their reach, use strong analytics tools, and partner with the right suppliers to improve credit union performance.