By deliberately lending more to members with near-prime credit scores and not as much to members with prime scores, two credit unions are beefing up their balance sheets.
The $18 million Newark Firemen Federal Credit Union in Newark, N.J., has completed its conversion to the CU*BASE platform through CU*SOUTH, an Alabama-based CUSO that is an affiliate of CU*Answers, the Grand Rapids, Mich.-based CU*Answers said.
The Michigan-based vendor holds steady at 225 credit unions running its CU*BASE core system.
Charging fees on a per-user basis punishes successful digital channel marketing and adoption.
Nebraska, North Dakota and South Dakota's small businesses fare best in new research from the SBA.
Read about five cities the AARP recommends to retirees. Only one of them is in Florida.
Credit unions need a guarantee that a final risk-based capital rule won't put them at a competitive disadvantage to banks.
The $153 million Kentucky Corporate Federal Credit Union has completed its merger into the Volunteer Corporate Credit Union, according to a VolCorp statement.
As more credit unions gain low-income status, risk-based loan pricing again takes center stage.
Surviving corporate VolCorp will maintain Kentucky Corporate's headquarters presence.