The 273,000 members of the $3.7 billion Patelco Credit Union in Pleasanton, Calif., can now deposit checks with their iPhones or Android devices.
Credit union assets topped $1 trillion in March, according to a report Wednesday by Callahan & Associates.
Dan Geller at Market Rates Insight predicts retail banks will start charging interest on deposits.
Oregon and Washington credit unions were reminded last week of something they know full well: the S&P downgrade of the nation’s credit rating and the market turmoil could bring in a substantial deposit influx at a time loan demand remains tepid.
Northwest Credit Union Association CEO warns of deposits' impact on capital-to-asset ratios.