Deposits

Credit union groups continue to make ad buys for industry-supported candidates in advance of Nov. 3, but recent positive economic news could be short-lived.

To shore up the share insurance fund, the National Credit Union Administration would be wise to give the industry additional temporary investment options.

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Partnering with the account-opening software firm Mantl, the New Jersey bank created a CD campaign that helped fund its Paycheck Protection Program lending.

On Jun. 30, 2020. Dollars in thousands.

A historic influx of deposits has brought the National Credit Union Share Insurance Fund’s equity ratio close to the point where premiums would be required, but the regulator’s plan is intended to boost it.

Second-quarter figures from the credit union regulator paint a grim picture for many states across a variety of key earnings metrics.

The plan would encourage more risk-taking by big banks, which would put the industry and taxpayers in harm’s way, write former CFPB Director Richard Cordray and Camden Fine, onetime head of the Independent Community Bankers of America.

The company and its global peers have seen their profitability hurt by half a decade of negative interest rates, which effectively make banks pay for holding clients’ cash.

A pandemic-driven surge in bank deposits helped drive the agency's insurance reserves below their statutory minimum.