ANTIGO, Wis.–CoVantage Credit Union deposited a record $4.2-million in patronage dividends at year-end to members who borrowed or saved with the CU. The payout marks the largest patronage payment in the history of CoVantage Credit Union, which over the last five years has returned $17 million to members through the patronage. In all, the credit union has been paying out the special patronage for the past 40 years.
Fresh Today
WASHINGTON—A congressional override of President Trump’s veto of the defense spending bill means language credit unions had fought to have removed will not become law and banks will not have access for facilities on military bases.
ATLANTA—BitPay, a cryptocurrency payments firm, has filed to become a national bank in the U.S., CoinDesk reported, citing a published legal notice.
SHREVEPORT, La.–Congressman-elect Luke Letlow, who died last week from complications of COVID-19, was one of the candidates who had received special support from the Credit Union Legislative Action Council (CULAC) and the Louisiana Credit Union League.
WASHINGTON—The U.S. Treasury is on the cusp of putting forward a new transaction reporting rule for money services businesses that interact with self-hosted crypto wallets, The Block reported.
NEW YORK—Credit unions may want to caution their members over credit card surcharges that may be becoming a mainstream practice during the pandemic.
NEW YORK–The overall credit performance of commercial real estate (CRE) loans in bank portfolios continues to show signs of pandemic-related stress with increasing delinquency rates and charge-offs and downward migration of risk ratings, according to a new analysis released by Trepp.
MADISON, Wis. – The Filene Research Institute closed out 2020 by offering a public thank you to members of its Inner Circle.
WASHINGTON–Former NCUA Executive Director Mark Treichel has launched a new consulting firm.
WASHINGTON — Discover Bank and two of its affiliates have been hit with $35 million in penalties by the Consumer Financial Protection Bureau over its student loan servicing practices.