Credit unions

Notre Dame Federal Credit Union in Notre Dame, Ind., said late last week that it raised $12 million from a new fund created to provide secondary capital to credit unions, angering bankers who see it as a disturbing trend.

Notre Dame Federal Credit Union in Notre Dame, Ind. said late last week that it raised $12 million from a new fund created to provide secondary capital to credit unions. It comes a month after a similar move by Jefferson Financial Federal Credit Union.

The Wisconsin-based corporate credit union will pay out a 7 percent return to members, a new record for the CU.

Trellance is designed to offer credit unions innovation on programs and services.

The payments CUSO noted this latest give-back comes after it had previously distributed $5.5 million in capital credits.

Credit unions are awash in digital transformation, and CU Journal is undergoing a transformation of our own.

U.S. Reps. Gwen Moore and Paul Cook introduced a bill this week would allow more credit unions to expand their fields of membership to underserved communities.

The Indiana-based credit union is scheduled for a Sept. 2018 core conversion.

The move will impact more than 800 credit unions.

The latest data from the federal regulator reveals positive gains across a variety of metrics, but industry consolidation continues as small CUs struggle to grow.