While credit union mergers and acquisitions (M&A) are relatively uncommon occurrences—in 2020 there were just 136 credit union mergers and just 5 bank acquisitions by credit unions—they are high-dollar agreements with [...]
Credit scores and consumer spending habits have changed since the beginning of—and even throughout—the COVID-19 pandemic. FICO scores are up, credit card balances and delinquencies are down, and many consumers are refinancing or [...]
After a year since COVID struck the U.S., FICO credit scores are up—a lot. For the past decade, the average FICO score has grown at around one point per year. In 2020, despite [...]
The Home Mortgage Disclosure Act (HMDA) requires financial institutions to maintain, report, and publicly disclose loan-level information about mortgages. The reported data: Helps show whether lenders are serving the needs of their communities Is used [...]
When it comes to analytics access and customizable data reporting, Twenty Twenty’s new loan portfolio management platform was the best option for Memphis City Employees Credit Union, says Nathan Stevens, CPA. The $275 million [...]
At the beginning of 2020, because of the COVID-19 pandemic, credit unions along with the rest of the world, saw threats to safety and soundness. Not only financial safety and soundness but threats to physical [...]
The National Credit Union Administration (NCUA) released its Q1 2021 data. Here are some key performance indicators: Total loans outstanding increased $49 billion, or 4.4%, over the year ending in the first quarter of [...]
The auto market has seen drastic shifts since the beginning of the COVID-19 pandemic. The impacts are being seen in auto values and on car lots across the country. There are several factors at play, [...]
The COVID-19 pandemic brought with it the most uncertain credit risk environment we’ve seen in at least a decade. Shuttered economies and historically high unemployment brought concern about borrower ability to repay, and assistance [...]
Credit cards saw a record setting reduction in balances during the pandemic, with total outstanding credit card debt dropping over 10% from Q4 2019 to Q4 2020. This trend is counter intuitive to what you [...]
When the COVID-19 pandemic began last year, it threw our world into upheaval. If asked a year ago, I would not have predicted that real estate values would experience record growth. Will this growth continue, [...]
Credit cards are often the best product in your loan portfolio for generating income. Competing in the payments space requires constant management of the program. Cards should be a part of your strategic plan and [...]
