CUNA Chief Advocacy Officer Ryan Donovan met with senior administration officials at the White House Tuesday to discuss credit union advocacy priorities for 2019 and beyond. Among the topics Donovan…
Sen. Mike Rounds, R-S.D., introduced a NAFCU-sought bill Thursday (S. 3750) that would delay the NCUA's risk-based capital (RBC) rule an additional year – moving its implementation date from Jan.…
While Michelle Dwyer says she “fell into her job” at $63 million asset Franklin First Federal Credit Union in Greenfield, Mass., there’s more to it than that. Dwyer started as…
The NCUA board Thursday approved decreasing the agency’s Normal Operating Level from 1.39% to 1.38%–far less than credit union trade groups have been pushing for during the past year. Board…
It’s not often I get to talk about the Farm Bill in this blog but contained within its 1400 pages is an important provision legalizing hemp in states that choose…
Wow. What a year!The credit union and FinTech worlds are frothy and lots of change is underway. This year, some of the walls came down and credit unions saw more…
How can online transactions become as safe as chip card transactions? Visa Chief Risk Officer Ellen Richey spoke at the Bloomberg Government Next.2018 conference in Washington, D.C. last month about…
Today’s consumer follows a multi-directional path to purchase, with their combined experiences determining what they buy, how much they engage and how loyal they become. Now, for the first time,…
While overall membership at credit unions grew in the third quarter, roughly half of the country's credit union reported fewer members at the end of the third quarter of 2018…
Nominations are being accepted for eight open director positions on CUNA’s board of directors. The following positions are open for nomination: District 2--Delaware, District of Columbia, Indiana, Kentucky, Maryland, Ohio,…
Bureau of Consumer Financial Protection Director Kathy Kraninger called NAFCU President and CEO Dan Berger yesterday further building on the ongoing relationship between bureau leadership and NAFCU staff. During the…
As we look toward 2019, we can take a cue from Fed Chairman Jerome Powell, who recently compared setting future monetary policy to walking through a room full of furniture…
Patronage dividends are a direct reflection of a credit union’s cooperative structure. Nowhere is that reflection brighter than at $6 billion asset CEFCU in Peoria, Ill., which lives by the…
In a new lawsuit, the NCUA claimed U.S. Bank and Bank of America unlawfully withdrew money from residential mortgage-backed securities trust funds to pay for their legal costs from court…
This week, NAFCU heard from many credit unions who received a letter from Progressive Insurance asking the credit union to fill out and return an IRS Form W-9. Many credit…
The Federal Reserve Bank of Boston conductedstudies earlier this year that produced shocking results. After polling 565 financial institutions, it was revealed that 20% do not offer mobile banking. 14%…
Online business lenders often turn around a loan request fast, and offer business owners the ability to apply at any time on any device. Important considerations, to be sure, but…
Two years ago, I refused to use Venmo. Today, I don’t go a week without it. Most weeks actually involve five to six Venmo transactions. My personal change in thinking…
While it’s not an actual law in a legal or scientific sense, we’ve always been a fan of Murphy’s Law. It states that if something can go wrong, it will.…
Application of the current expected credit losses (CECL) standard to credit unions continues to be inappropriate, CUNA wrote to the House Financial Services subcommittee on financial institutions and consumer credit…
In a hand-delivered letter Tuesday – new Bureau of Consumer Financial Protection Director Kathy Kraninger's first day of the job – NAFCU's Dan Berger outlined credit unions' top tenets and…
The light-speed advancements of technology can give us glimpses of what the future may hold for the credit union industry. What may become part of that future is Pepper, the…
Five years ago, Infinity Federal Credit Union ($349.2M, Portland, ME) was a conservative financial institution, even by the standards of a traditionally conservative industry. The credit union primarily focused on…
Social scientists will tell you that when faced between two difficult choices, the natural inclination is to choose to do nothing. That is why, for example, umpires hate to call…