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.
Weak economy, low interest rates and most of all, regulatory burden, cited in responses.
These life stage-appropriate programs target their demographic with incentives, from treasure chest prizes to loan discounts to local merchant coupons.
The Partnership FCU takes in Fannie Mae FCU to form $140 million institution.
New York credit union says it's waiving NSF, late fees.
All branches open, albeit one with mobile branch.
The decline in the number of small credit unions is very visible. I just finished an analysis of the local credit unions in my service area, and I think I have found some interesting information that may explain what is happening. I looked at the last five year period, June...