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In the face of widespread power outages and supply shortages, credit unions are doing everything from offering low-interest emergency loans to providing bottled water and hot meals.
September 9 -
The credit union service organization, which changed its name from CU Realty Services in June, has expanded its service area to cater to more homebuyers and help credit unions secure their mortgage pipeline.
September 8 -
The Alexandria, Virginia, organization will change its name next month.
September 7 -
John Faust plans to step down next year, concluding a nearly 30-year tenure as president and CEO of Diamond Credit Union.
September 7 -
Jim Harris, who has been president and CEO of University & State Employees Credit Union since 2006, is stepping down from those roles but will remain with the credit union to facilitate succession planning.
September 3 -
The Edwardsville, Illinois, credit union has agreed to merge with South Division Credit Union in Illinois. The deal comes shortly after Scott agreed to buy Tempo Bank.
September 3 -
The creators hope CU Offers, which lists discounts at local and national businesses, will attract new members and strengthen ties with existing ones. But observers are skeptical that it will drive real growth or inspire frequent use.
September 3 -
Massages, a "bring your dog to work" policy, telemedicine and Zoom happy hours help these credit unions strike the right balance between work and personal needs.
September 3 -
These credit unions range offer perks such as higher starting wages, on-site training and annual bonuses. They also foster a sense of community with game nights, holiday parties and birthday celebrations.
September 3 -
Employees of these credit unions, the largest of this year's Best Credit Unions to Work For, get perks such as one-on-one meetings with the CEO, time off to volunteer, and better loan rates.
September 3 -
Hoping to slow the pace of deals, the Independent Community Bankers of America is urging lawmakers to impose a tax on credit unions that acquire small banks. One credit union CEO called the proposal a "gimmick."
September 2 -
The National Credit Union Administration issued four prohibition orders and two notices of prohibition against individuals accused of theft, misappropriation of member funds and making fraudulent loans, among other allegations.
August 31 -
LOC Federal Credit Union and MemberFocus Community Credit Union aim to utilize the flexibility of the latter’s state charter to enlarge membership.
August 30 -
As more banks and fintechs offer installment loans at the point of sale, CO-OP Financial Services and PSCU are designing products to allow credit unions to compete in this market as well.
August 30 -
Some credit unions are leaning heavily on tech partners to speed payments and loan decisions, offer online financial planning sessions and deploy virtual assistant technology developed at MIT.
August 27 -
Regulators are calling for creative alternatives to the arduous de novo process. Pairing groups that want to open credit unions with lagging institutions would be quicker and could help preserve the sector, one credit union service organization says.
August 27 -
Some banks and credit unions, once hopeful of a swift end to the pandemic, are beginning to toughen credit underwriting and rethink growth strategies as if the coronavirus will influence the economy for years to come.
August 26 -
Subprime borrowers whose credit scores have risen since they bought their cars are increasingly looking for a better deal. Credit unions and small banks are seizing the opportunity, often with the help of fintechs.
August 25 -
Increased access to telehealth visits. Cash incentives to get vaccinated. Bring your dog to work — every day. These credit unions, though still providing traditional team-building fun and games, have taken extra steps this year to cater to the needs of employees.
August 25 -
Scott Credit Union of Edwardsville said it is acquiring Tempo Bank in Trenton, Illinois. It is the fifth such transaction announced since Aug. 5 and the 10th of the year.
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