Sen. Mark Udall (D-Colo.), primary sponsor of S.2231, which would increase the member business lending cap to 27.5% of assets, received loud cheers as he spoke in favor of the legislation to about 500 gathered in Washington Nov. 27 to hike the hill in favor of the bill.
To understand what the aftermath of a disaster like Hurricane Sandy can do to a credit union look no further than the $1.8 billion Municipal Credit Union. In the difficult days following the super storm, MCU members became increasingly frustrated and furious, sharply criticizing the New York credit union for...
As of June 30, New Mexico credit unions were thriving with a return on assets of 101 basis points, according to NCUA quarterly mapping data. That’s well above the national average of 0.86% ROA. However, the so-called fiscal cliff could curse profitability for credit unions in the Land of Enchantment.
With its chartering announcement last week, Thrivent Financial Federal Credit Union began life as a credit union again, an identity it has not held since Thrivent Financial was formed out of two credit unions in 2001.
When a litany of loan and management problems led to the demise of Telesis Community Credit Union earlier this year, the business lending CUSO it founded 17 years ago likely knew it would inherit a perception problem within the industry.
An Office of Personnel Management annual survey revealed a drop in federal employee job satisfaction. However, that is not the case at the NCUA.
With a team of 10 advisers helping to oversee a retail investment portfolio of $402 million, SchoolsFirst Federal Credit Union places high value on being able to respond to members quickly, seamlessly and efficiently.
Sifting through emails, digging through documents and asking colleagues about their progress on projects are cumbersome tasks that can consume excessive time for any organization.
Three words jump out of the just released report from Boston Mass research firm Aite Group about “Credit Unions’ Online and Mobile Channel Strategies”: mobile, mobile and more mobile.
Consumers plan to spend more on holiday gift giving this year, as much as a 4% increase, according to an annual survey on the topic sponsored by CUNA and the Consumer Federation of America. The two groups released the survey results in a press event Nov. 21.
Third-quarter figures for federally insured credit unions last week were welcome news and the result of a lot of hard work by credit union professionals around the country. Certainly not a gift, though we all appreciate those (iPad2, please), but something to savor because you’ve earned it.
For Shari Storm, senior vice president at Verity Credit Union, periodically applying and interviewing for other jobs has helped reinforce that she is exactly where she belongs.
With increasing regulation, economic pitfalls, commoditization of financial services, and foreseeable competition from the likes of Google, Amazon, Apple, and cell phone service providers, CUSOs that continue to offer products and services in a traditional business model could become a liability to their credit union clients.
The large and growing need for affordable remittance transfer services represents an equally large business opportunity for credit unions. This is especially true for those U.S. cooperatives serving Hispanic members with family in Latin America.
For nearly two years, I’ve been analyzing Gen Y–their preferences, where they’re coming from and what makes them tick–and suggesting how credit unions can tap into their market every month in this column. In 2013, Credit Union Times will retire the Gen Y Back Talk column, so this past month...
Gen Y, 76 million strong, will play a monumental role in what is projected to be, the largest transfer of wealth in the coming decades. With the average age of a credit union member at 47, credit unions continue to struggle to attract younger members. It is imperative that we...
The Florida Credit Union Shared Services’ board of directors announced that it has selected Michael Yatros as the new chief executive officer.
Detroit Metropolitan Credit Union and Clawson Community Credit Union announced that the two financial institutions are merging, with Detroit Metropolitan remaining as the surviving credit union.
Credit unions that adopt tablet-specific apps for their members are catering to a growing market.
The $1.6 billion, 196,700-member Truliant Federal Credit Union will be merging the 1,500-member, $2.4 million New River Valley Truck Plant Federal Credit Union.
Randolph-Brooks Federal Credit Union CEO Randy M. Smith has announced plans to retire effective Dec. 31.
Lifelong credit union leader and New York Credit Union Hall of Fame member Nino Montani passed away Nov. 17 at the age of 90. A Niagara Falls resident, Montani had been a credit unionist since 1952, when he helped initiate the process that led to the founding of Hooker Employees...
Louise Daniels Hinton, formerly of CAMPUS USA Credit Union in Gainesville, Fla., passed away last month at age 87.