Field of membership

Earlier this year CUNA announced a new push to better educate consumers about credit unions. The Northwest Credit Union Association is asking its members to contribute to the effort.

Despite continued growth and regulatory victories, this year saw challenges on a number of fronts that could have lingering – and even negative – consequences for the industry in 2019 and beyond.

One week after NCUA filed its own appeal brief, three major organizations banded together in support of the expanded field-of-membership rule

The regulator claimed Congress has already granted it the authority to define field-of-membership areas.

Last week the car manufacturer said it would cut jobs and close factories. Now credit unions in the affected areas are considering how the news will affect their members and themselves.

In a bid to show it can best the competition, the Massachusetts-based institution will donate to a local food pantry every time new members join the CU and download its app.

City of Boston Credit Union also expanded its field of members earlier this year. The moves are part of a long-term growth strategy to remain competitive.

Organizers of the credit union believe there is a funding gap in the state for agriculture and want to fill the void.

Credit unions around the globe added more than 40 million members between the end of 2013 and 2017, according to a new report from the World Council of Credit Unions.

The $5.4 billion-asset credit union said FOM expansion continues to be part of its long-term growth strategy.