Tight margins continue to dampen enthusiasm in credit union corner offices.
Catalyst Corporate economist Brian Turner says higher payroll taxes offset impact of low inflation.
Vehicle loan originations continued to be a bright spot for credit unions this year.
Lending, liquidity and tax exemption are three areas where the search for the Grand Bargain could impact credit unions.
Last week, credit unions’ federal tax exemption appeared to be in jeopardy. H.R. 6474 would have gradually repealed credit unions’ tax-exempt status over five years. Fortunately for credit unions, a spokesman for Rep. Dennis Ross, the bill’s sponsor, explained that the inclusion of this in the bill was accidental,...
While credit unions seem to have dodged this lob for now, it did draw attention to the credit union tax exemption, which the banking lobby is sure to relish.
More than a week after President Obama was given another opportunity to lead the country, most pundits agree that how voters in states like Michigan and Ohio felt about the federal bailout of the auto industry played a huge role in the campaign’s outcome.
The $3 billion Catalyst Corporate FCU announced Oct. 29 the completion of its purchase and assumption of the Phoenix-based First Corporate Credit Union, a so-called pass-through corporate that struggled to gain enough scale to replace services provided by U.S. Central FCU.
Forty two of the 48 former FirstCorp members elected to stick with Catalyst, a number the Plano, Texas-based corporate said exceeded the expectations.
For many credit unions, the first 90 days after a new member signs on can be a critical gauge on whether a relationship can be nurtured and sustained for the long term.