Credit cards still remain the most profitable loan product in the portfolio.
Hints about future regulations on payday lending from CFPB indicate the rules could effectively shut down alternatives at credit unions.
CFPB Director reassures Realtors credit unions can still make mortgage loans that don't conform to the bureau's qualified mortgage rule, which took effect Jan. 10.
As the number of members using online banking continues to grow, credit unions are capitalizing on that trend by investing in solutions that have expanded opportunities to cross-sell products, increase brand awareness and enhance services.
The other good news for the Empire State is that 73% of its credit unions reported a positive return on assets as of Dec. 31, 2012. Statewide, New York’s credit unions earned an average ROA of 87 basis points, slightly higher than the national average of 86.
New York state credit unions best national ROAA average by a point while absorbing Sandy's blow.
White paper says TransUnion finds delinquency rate at 5.33% for all private student loans; Callahan says rate is 1.45% at credit unions.
Through a unique partnership, Del-One Federal Credit Union was able to provide $1.2 million for school buses this summer.
The trade association, in a letter to CFPB released late Thursday, urges focus on problem lenders without sweeping new regulations. Comment deadline is Friday.
Killeen credit union joins about 500 credit unions that offer Sallie Mae’s Smart Option Student Loan referral program.