As federal regulators rewrite rules governing the Community Reinvestment Act (CRA), the banking industry is renewing its call for the agencies to seek legislation that would subject credit unions to the CRA. “Some credit unions [...]
The transition to the digital world has inevitably accelerated in recent decades, yet we’re all still working to stay up-to-date on the latest technological offerings and integrate them into our personal and professional lives. [...]
In April, the NCUA updated its Low-Income Designation (LID) Area Workbook, an overview of all geographic areas in the United States and Puerto Rico classified as “low-income,” a criteria met when a majority of an [...]
How prepared is your credit union for cryptocurrency? Starting as an inventive experiment in 2009, cryptocurrency has evolved into a worldwide phenomenon that is simply too big for credit unions to ignore. The father of [...]
The U.S. House of Representatives added hundreds of unrelated amendments to the National Defense Authorization Act (NDAA) in late July, including Section 5403 that would grant NCUA oversight and examination authority over any and [...]
The Illinois Credit Union System (ICUS), in collaboration with over 850 organizations, took social media by storm for the 2nd annual #ILoveMyCreditUnion social media blitz on July 29. The goal of the grassroots campaign was [...]
Ginnie Mae Thursday announced that it will exclude federally insured credit unions and state housing finance agencies (HFAs) from its capital requirements and recognize them as insured depositories regulated by a prudential regulator, providing them [...]
Recently, I was contemplating the idea of what our credit union might look if we as an industry could start over. As a credit union board member, I have seen that board working on becoming [...]
When it’s time for your next strategic planning session, what topics will be top of mind when preparing for your credit union’s future? The 2022-2023 CUNA Environmental Scan (E-Scan) explores trends shaping the [...]
Incorporating sustainability into business culture and operations is nothing new. Organizations have been weaving in small-scale solutions for decades. “Think before you print” taglines popped up in the early 2000s. I can remember washing solar [...]
Some financial terms are easy to understand, like “money” or “savings account.” Other terms, though, can be a bit harder to understand, like “escrow.” You might have seen this term, especially if you’ve bought [...]
Credit unions and their trade groups applauded the Financial Crimes Enforcement Network (FinCEN) for proposing a “no-action letter” process but warned that it would be unfair if the NCUA and other regulators were not parties [...]
When you close an account, it may not be removed from your credit report immediately. This is true whether the closed account is a credit card or an installment loan. Closed accounts stay on your [...]
Despite the headlines, consumers and businesses continue to spend, says Visa’s Chief Economist, Wayne Best. In a recent interview with the Wharton Business Daily podcast, Wayne Best, Visa’s Chief U.S. Economist, discussed [...]
Although the Americans with Disabilities Act (ADA) has been in place since the 1990s, it presents opportunities and challenges for credit unions. These challenges include how to comply with the laws while providing an exceptional [...]
