Credit Union News

According to the latest reports, Credit Union membership and total assets have hit an all-time high. Earnings have improved, loans have increased, and deposits have grown even faster than lending, while delinquencies and charge-offs have remained constant, and member bankruptcy filings have decreased.

Monday, July 28, 2014

Iowa’s credit unions see big growth Iowa’s credit unions are in the midst of a growth spurt. The Gazette

 

Former U.S. Representative Gabrielle Giffords and Astronaut Mark Kelly to Speak at Fiserv Conference Representative Gabrielle Giffords and her husband, retired Navy combat veteran and NASA astronaut Mark Kelly, will join the impressive lineup of speakers at Fiserv Forum, its fall conference for credit union clients. Business Wire

 

Daria Musk Performs ‘Hangoutiversary’ Concert July 16 Sponsored by CO-OP Financial Services Amplifying Dreams" consumer outreach on behalf of credit unions. Business Wire

 

Grow Financial Brings Augmented Reality to Tampa Bay Previously, the virtual money machine was located at the Credit Union’s Downtown Tampa store for the past year and a half and was widely successful. Business Wire

 

RewardsNOW’s Andrew Gates Featured in July Issue of Credit Union Magazine Gates discusses how credit unions should design their rewards programs to give their members a wide range of redemption options such as travel, merchandise, gift cards, or digital content. Business Wire

 

Credential Financial Reports on Growth One Year After Launching Correspondent Services Division "Our transition to Credential was seamless and their efficiency and excellent service has allowed us to focus on what we do best-managing our clients finances." In 2013 Credential also launched a unique program that connects the Companys credit union partners with select portfolio management firms specializing in discretionary investment management for affluent investors. Marketwire

 

Core Processing & IT Vendors Outmaneuver Community Financial Institutions in Negotiating Contract Pricing and Terms ... The study finds that on average, community banks and credit unions between $100 Million and $5 Billion in asset size are paying between 10.2 and 41.4 percent above fair market for these services, or $1.2 million over a five-year contract. Marketwire

 

California

Monterey Credit Union vote nears end In a mutual savings bank, members (like a credit union) have voting power for the future of the institution. The Monterey County Herald

 

Colorado

Vail Daily column: Taking the hint — marijuana laws and banking Credit unions are generally insured under the National Credit Union Administration and backed by the full faith and credit of the United States government (Oops, there are those pesky feds again.) The problem of how and where to move funds still remains. Vail Daily

 

Florida

Deputies arrest suspect in 2 Orange County bank robberies Orange County investigators arrested a man Saturday who they said is responsible for robbing two Fairwinds Credit Unions last month. WFTV 9 Orlando

 

Illinois

Consumers Credit Union introduces new mascot: Earnest the Pig In recent week’s, Earnest has joined the credit union’s community outreach team at festivals and other special events throughout Lake County. Mundelein Review

 

Kansas

Study finds commercial banks meeting needs of ag borrowers The report also indicates challenges to bank profits, which are occurring at the same time that credit unions and FCS lenders are using their taxpayer-funded subsidies and funding advantages to cherry pick community banks’ strongest and most profitable customers. High Plains Journal

 

Massachusetts

CU Wallet Reports Record Growth, 65 Credit Unions Join Mobile Wallet Movement “CU Wallet is leading the way for credit unions to be successful in the next chapter of mobile banking,” said Tim Smith, senior vice president and chief financial officer of Workers Credit Union. Business Wire

 

Michigan

Advia Credit Union to merge with Southwest Michigan Federal Credit Union The credit unions will combine assets, creating a non-profit financial institution that has more than 110,000 members and assets of more than $1.1 billion. The Kalamazoo Gazette

 

Credit unions: business loan demand jumps The Michigan Credit Union League & Affiliates report business loans tendered by credit unions in the state jumped from $875 million in 2010 to $1.7 billion in March of this year, representing a 94 percent increase. Traverse City Record-Eagle

 

New York

On the Record / July 16, 2014 The Credit Union Association of New York re-elected Marie Betti, chief executive officer of the Western New York Federal Credit Union, for a third term as the director/treasurer in the asset category of $25 million to $100 million. The Buffalo News

 

Pennsylvania

Could plan to offer financial services save Postal Service? If post offices teamed up with nearby credit unions or community banks, Warren said, they could provide similar services for less, potentially funneling millions more people into the traditional banking system. Reading Eagle

 

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