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.

Tuesday, March 31, 2015

The Future of Small Business Borrowing Credit unions, also locally determined In a recent online poll we asked small business owners about their borrowing preference. FOX Business Small Business Center


Bankjoy Is Building A Modern-Day Mobile Banking App For Use By Credit Unions And Smaller Banks The Y Combinator-backed startup was founded by Michael Duncan, who worked for years at a credit union himself, first as a programmer, then later promoted to manage the company’s online and mobile banking services. Techcrunch


Iowa’s credit unions finish 2014 strong Iowa’s credit unions loaned out more than $9.2 billion and saw growth in autos loans, mortgages, personal loans and business loans. The Gazette


Home Hardware CEO to address delegates Keynote speaker Terry Davis, CEO of Home Hardware, will kick off the Manitoba Credit Unions convention, which begins today. Brandon Sun


Mobile vision for credit unions "People are beginning to want to use (mobile devices) to access more and more of their services," Garth Manness said during the annual convention of the province’s credit unions at the Victoria Inn on Thursday. Brandon Sun


CUSO Financial Services and Sorrento Pacific Financial Appoint New National Sales Manager A veteran of the financial industry, Hoaglin uses his high-level industry expertise to provide guidance and leadership to CFS and SPF banks and credit unions across the country. Business Wire


Consumers Credit Union Unveils New Digital Banking Experience from Digital Insight “Consumers Credit Union mission is to provide superior member service through education and exceptional products,” said Chief Operating Officer Scott Sylvester. Business Wire


Grow Financial Participates in Flowertown Festival with the Summerville Family YMCA This is the first time the Credit Union has participated in the festival. Business Wire


Grow Financial Participates in Tampa Pride Team members of Grow Financial will take part in the festival and parade on Saturday, March 28 by talking about membership within the Credit Union. Business Wire


ACI Worldwide Powers Online Banking for Polish & Slavic Federal Credit Union With 82,000 members and more than $1.6 billion in assets, PSFCU is the largest ethnic federal credit union in the United States. Business Wire


CUNA Mutual Group Releases New Research on Middle-Income Americans CUNA Mutual Group has more than 2 million conversations with credit union members each year and a database of more than 65 million credit union members. Business Wire


National Ads Over the years, two other Abitibi credit unions, two Elevator credit unions and the CNR credit union joined Apple Community and currently it serves 1,580 members, employs 6 staff and has members’ assets of $13 million. Lake Superior News


Coast Capital Savings Experiences Significant Earnings and Membership Growth in 2014 Revenue for the credit union increased 4.1 per cent, from $313.6 million to $326.4 million, and net income rose by 18.7 per cent from $52.5 million to $62 million, after setting aside the one-time 2013 gains on the sale of general insurance and commercial properties. Marketwire


G&F Financial Group Chooses Bonzai Intranet to Create a Single Source of Information for All Employees The Credit Union was attracted by Bonzais intuitive design, clean user interface and robust search functionality, as well as its Events module, ability to set expiry dates on content, colour code alert messages on the homepage banner, and Yammer integration. Marketwire


CEOs of Large BC Credit Unions Paid Much Less Than Most Corporate Leaders, Says Third-Party Report This year, some of the provinces credit unions are disclosing annual CEO and board of directors compensation. Marketwire


Backlash over Klongchan fraud case News reports claimed that dozens of cooperatives had lent large amounts of money to the Klongchan Credit Union Cooperative. The Nation - Thailand's English news


Executive Producer Banks and credit unions also generally limit the amount of cash available to their tellers. WJFW Rhinelander



Alabama One Credit Union sued over alleged sham loan involving Tuscaloosa businessman Another civil lawsuit has been filed against Alabama One Credit Union, this one alleging improper actions by its officials in a loan involving Tuscaloosa businessman Danny Ray Butler, who is now in federal prison. The Tuscaloosa News


Former Alabama One Credit Union board member aims to file complaint "I think I got valid reasons to contest this election," said Jerry Logan, who lost his bid Saturday evening for a seat on the Tuscaloosa-based Alabama Ones board of directors at the credit unions annual membership meeting. The Tuscaloosa News



BrightStar Credit Union selling up to 90 repossessed vehicles Brightstar Credit Union to sell repossessed cars at all-day event. Sun-Sentinel



Georgia Credit Unions finish strong in final quarter of 2014 On a $25,000 new auto loan, credit union members in Georgia saved an average of more than $500 over five years. Rockdale Citizen



Workers' plans Westford opening Doyle and Bordenca noted their credit union distinguished itself with its recent $2.5 million give-back, in which members receive a special dividend from the previous years profits. Lowell Sun



Potential Data Breach According to credit union officials, the suspected data breach was at a local merchant. WLUC Marquette


New Mexico

Police: Men skimmed pin numbers from multiple CU Anytime ATMs CU Anytime offers ATM services for local credit unions. KOB 4 Albuquerque


New York

Taxi loans driving lenders to high profits These four credit unions have strong capital reserves and are still profiting handsomely on medallion loans, with delinquency levels at or near zero on those loans. New York Post



Profiles up for pair of banks The Coral Gables-based research firm rates banks and credit unions each quarter, giving them zero to five stars based on the stability of their financial profiles. The Toledo Blade



12 Best Checking Account Promotions Available Now Langley Federal Credit Union: $50 Langley Smart Checking Account PromoOne of GOBankingRates’ top-rated military banks and credit unions for 2015 also currently has one of the best checking promotions: Members who open a Langley Smart Checking account receive a $50 bonus.


Franklin County area business digest Five witnesses were invited to testify including Professor Adam Levitin, Professor of Law – Georgetown University Law Center and industry executives on behalf of the American Bankers Association, Credit Union National Association, Independent Community Bankers of America, and National Association of Federal Credit Unions. Chambersburg Public Opinion



Is Your Money Safe in A Credit Union? The other employee worked at the Centra Health Credit Union. ABC 13 Lynchburg



Everyday Business | NCW banks and credit unions perform well in 2014 Bank, Cincinnati, Ohio; Wells Fargo Bank, Sioux Falls, SD; Coulee Dam Federal Credit Union, Coulee Dam; Wenatchee Valley Federal Credit Union, Wenatchee. The Wenatchee World


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