WASHINGTON—After announcing participants in the FedNow Service's pilot program last week, the Federal Reserve has now released updated launch timing, indicating the Fed's real-time payments system will be ready in 2023.
Fresh Today
WASHINGTON—Congress must include targeted and temporary liability protections as it considers the next round of COVID-19 relief legislation, CUNA and nearly 600 other organizations—including the American Bankers Association—wrote to all members of Congress this week.
PROVIDENCE, R.I.–Credit unions in Rhode Island, which have traditionally sponsored the state’s high school basketball tournament, are now sponsoring the entire season this year, which has been condensed into a one-month timeframe due to the pandemic.
BRISBANE, Australia–The largest credit union in this country, Credit Union Australia, better known as CUA, is planning to rebrand as Great Southern Bank.
TULSA, Okla.–TTCU has announced it is paying out $3.5 million in bonus dividends. The credit union said the payout is a 10.5% increase over its payout one year earlier.
MADISON, Wis.—The World Council of Credit Unions’ Young Credit Union Professionals (WYCUP) program is launching the “10,000 Strong!” campaign as part of an effort to highlight its efforts to create the largest global network of young credit union professionals.
LONDON—A European Central Bank governing council member said Bitcoin investors should be prepared to lose their entire investment, the latest such warning from a central banker about cryptocurrency volatility.
CHICAGO–One credit union has made the list of finalists for the 2020 BAI Global Innovation Awards.
WASHINGTON–A bankers’ trade group has sent a letter to the new Congress with an old request--end the credit union tax exemption--using a new message: CU acquisitions of banks are creating a “brain drain” in local communities.
MADISON, Wis.—Membership growth at credit unions continued to slide as 2020 was nearing its end–with membership in the 12 months ending in November growing at the slowest pace since 2014, according to CUNA Mutual Group’s latest Trends Report.