A long-awaited overdraft report, released June 11, featured some unflattering statistics related to credit union overdraft income.
You can regulate the money out of the business, but you can’t regulate the personal responsibility out of the consumer. No matter what Washington does to keep credit unions and other lenders from taking advantage of the less well-educated, the desperate and the elderly, ultimately consumers have to take responsibility...
Consumer advocate's push against credit union short-term lenders hurting those they think they're protecting.
According to the report, while bank and thrift service charges on deposit accounts have declined since 2008, credit union fee income has increased by 15%.
Memphis credit union plans to use a new teller imaging system integrated with its existing check fraud management program.
XtraCash says it and its clients exceed bar set by payday lenders and if forced to meet NCUA standards, the credit unions couldn't do it.
In their quest to comfortably cover operating expenses with help from noninterest income, several credit unions said this year, they’ll mostly rely on NSF fees and interchange income, followed by income from insurance products and monthly service fees.
Every day, six days a week, a credit union closes and never re-opens. That has been going on for many years. More than 3% of credit unions have annually closed for the past decade. By 2025, the United States will have around 4,500 credit unions.
Do the math. Look to your right. Look to your left. One in three credit unions will vanish by 2025. Find out more in this week's preview from next week's print edition.
Forty years ago, Helen Bunn became the manager of Fannie Mae Federal Credit Union. At that time the credit union served less than a 1,000 members and managed assets of just $125,000.