Northern Paper Mill Credit Union will merge with Fox Communities CU but no date has been given for when the deal might take effect.

The credit union regulator will hold off in-person examinations until at least May and has already pushed back at least one comment deadline as the pandemic worsens.

The pandemic has the industry rethinking its hiring practices, such as how to onboard employees while limiting in-person interactions, and deciding which roles need to be filled immediately.

The $2 trillion stimulus package, which the House passed earlier in the day, aims to expand Federal Reserve liquidity resources and provide financial institutions with some regulatory relief.

In contrast, grocery stores and pharmacies saw a jump in spending during the coronavrius outbreak, according to credit union member data examined by the CUSO.

The Somerville, Mass.-based credit union appointed its VP of lending to serve as temporary CEO following the departure of its longtime leader for another institution.

Credit unions serving university communities got an early taste of life during the pandemic when classes moved online and campuses cleared out.

Leveraging AI and machine learning can help credit unions focus on doing what they do best: forging connections with members.

The joint statement said examiners will not impede banks and credit unions’ responsible efforts to offer open lines of credit, closed-installment loans or other products to borrowers dealing with fallout from the pandemic.

NAFCU and CUNA wrote to the regulator asking for a variety of measures to help credit unions weather the pandemic, including not implementing the CECL standard until at least 2024.

Arizent, the parent company of Credit Union Journal, has conducted a broad industry survey on both the impact of the crisis and emerging responses. The survey probed continuity efforts and remote workforce enablement as well as planning and investments being pursued against future potential disruptions.

With schools across South Carolina closed until the end of April, the credit union is offering a perk for parents who can't do their jobs remotely.

Details of the $2 trillion deal were still fluid Wednesday, but lawmakers were closing in on a plan that would aim to put lenders and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

While loans continued to increase, growth was slower than one year previously and membership was flat.

Margins will be squeezed after the Federal Reserve lowered interest rates earlier this month to counteract the economic fallout from the coronavirus.

Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic.

Fluke Employees Federal Credit Union has agreed to become part of Sound Credit Union and the transaction should close later this year.

Member business loans have been on a roller coaster over the last year and as the pandemic impacts the economy, executives will need to closely monitor these portfolios to catch any problematic credits.

The credit union regulator's Office of Credit Union Resources and Expansion is making grants of up to $7,500 available to low-income designated institutions.

A new study finds that along with fears about employment, nearly half of those who have savings or an emergency fund are dipping into their reserves as a result of the coronavirus.