Over the last 20 years, the pressure of competition has increased significantly for credit unions. Many non-depository institutions have entered the lending and transaction account spaces historically reserved for financial institutions. The fast pace of innovation in technology and financial products and services have brought new consumer expectations along...
SELCO Community CU expands staff despite turning members away due to the business lending cap.
A year after financial troubles led to its conservatorship, Texans Credit Union's fiscal health appears to be improving.
It may be hard to truly gauge whether the majority of members are feeling skepticism toward signs that an economic recovery is well on its way.
Agency inspectors say shortfall was from liquidation rather than bulk sale of Florida property by Michigan's failed Huron River Area CU.
Come 2030, credit unions will be in business serving up some kind of financial services, essentially one generation removed from today. However, getting there will be as wrenching—as full of dislocations and pains—as was the shift from 1950s-style credit unions with no share drafts into today’s full-service financial supermarkets.
In this print preview from next week's edition, experts look at what the industry may look like a generation from now.
While Bank Transfer Day helped to boost membership to record numbers, the industry could see an exodus of some of its more profitable members in 2013 if credit unions are not capitalizing on those relationships.
In 1949, seven employees at the National Advisory Council for Aeronautics formed a credit union. The agency was destined to become the National Aeronautics and Space Administration in 1958, on the cusp of a time period when the space race with the Soviet Union was to end with a man...
As financial institutions, many people would suppose that credit unions make lending money a key focus of their business. But sometimes, over time, they lose some of that focus and fail to adapt their lending programs to members' changing economic needs. That is a little of what Brett Jorgenson found...