The Ann Arbor, Michigan-based fintech is working with two Michigan credit unions to pilot a service that allows consumers to jointly save for purchases.

The $12.1 billion-asset DCU launched the loan platform in 2022, and has seen volume jump by close to $600 million from when talks began in 2019 to last year.

The $171 billion-asset Navy Federal Credit Union began operating roughly 60 locations and more than 270 ATMs as part of the Overseas Military Banking Program this month. The contract was awarded in September of last year, but faced federal deposit insurance challenges and industry pushback from credit unions and banks alike.

The $4.2 billion-asset MCU in New York is working with Ameriprise Financial Institutions Group to connect members with the firm's network of digital advisors and offer investment planning options alongside its traditional products.

Lack of understanding remains a key hurdle for adopting traditional and generative artificial intelligence-powered tools, but banks and credit unions are still eager to use AI, according to data from Arizent.

The Navy Federal scandal is just the tip of the iceberg. After looking away for 20 years, Congress needs to focus on providing real oversight of the credit union industry.

The U.K. is considering a bill that would let banks and payment service providers put suspicious-looking peer-to-peer payments on hold for up to four days to conduct security reviews; Giesecke+Devrient is working with Brazil's central bank to develop an offline payment approach to a central bank digital currency; and more in global payments news this week.

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

Through its integration with the auto manufacturer, Origence and its indirect lending subsidiary FI Connect aim to match buyers in need of auto loans to eligible credit unions.

Sound Credit Union said it would acquire Washington Business Bank in a cash deal slated to close in the fourth quarter.

An advocate for the credit union industry pushes back against "tired" and "recycled" criticism from bankers.

The $6.8 billion-asset institution partnered with FusionIQ to launch digitally advised and self-directed investment platforms as part of a push to attract and retain younger generations of consumers.

Surprise overdraft fees and charges incurred by consumers who cash bad checks likely violate the law, state Attorney General Rob Bonta said. His message was especially notable because it was aimed at smaller institutions that have gotten less scrutiny from Washington.

Auto-enrolling its membership for a credit-scoring tool offered by SavvyMoney helped Knoxville TVA Employees Credit Union nearly double approvals across its credit card, personal and auto loan portfolios in early 2023.

The $4.4 billion-asset institution's 30-second commercial on Sunday sought to promote the idea of financial wellness as integral to "not-for-profit" banking and boost new member growth.

The $18.5 billion-asset institution saw member growth increase by 22% year-over-year and fund levels surge in the first six months of last year after deploying a new deposit origination platform.

Hood, who was first appointed to the National Credit Union Administration in 2005, explained what drove his focus on financial inclusion and the technology that promises to make it possible.

Navy Federal, the nation's largest credit union, is facing a lawsuit about its allegedly discriminatory mortgage lending practices.

The deal by the $11.8 billion-asset Global (formerly AlaskaUSA) to acquire First Financial Northwest Bank is one of the largest bank deals ever struck by a credit union.

Hudson Valley Credit Union, which has $6.9 billion of assets, is buying Catskill Hudson Bancorp, which has $593 million of assets — more than any bank acquired by a credit union last year.