ALEXANDRIA, Va.–Federally insured credit unions during 2019 grew total assets by $113 billion (7.8%), loans by $64 billion (6.2%) and membership was up by 4.2 million, according to NCUA’s Quarterly Credit Union Data Summary for Q4 2019.
Fresh Today
ARLINGTON, Va.—While the U.S. economy saw modest to moderate growth in recent weeks, the Federal Reserve's latest Beige Book data shows the coronavirus was starting to impact some industries, including travel, tourism, and manufacturing.
WASHINGTON—Senate Banking Committee Members Tim Scott (R-SC) and Catherine Cortez Masto (D-NV) have introduced legislation, the Expanding Access to Lending Options Act (S. 3389), that would give the NCUA greater flexibility in setting loan maturity limits under the Federal Credit Union Act.
IRVINE, Calif.–With a new mortgage platform not even a year in the market, CU Direct is preparing to roll out the same technology to two other lending channels as part of a solution it said credit unions will find “revolutionary.”
ARLINGTON, Va.—Total vehicle sales declined slightly to a rate of 16.8 million annualized units in February. Of note, light trucks continued to dominate while auto sales struggled, NAFCU reported.
EL SEGUNDO, Calif.–First Entertainment Credit Union has entered into a multi-season sponsorship agreement to become the Official Credit Union of the NBA’s Los Angeles Lakers.
TEXARKANA, Texas–TEXAR Federal Credit Union has joined PSCU as its newest owner credit union.
MADISON, Wis.–The World Council of Credit Unions’ Global Women’s Leadership Network (GWLN) is calling on credit unions from around the globe to advocate that “an equal world is an enabled world” by encouraging industry women to apply for a 2020 GWLN Scholarship beginning on International Women’s Day.
LONDON—European fintech investment grew to a new high of $58.1 billion in 2019, the majority of which was secured in the U.K. Separately, the majority of Chinese banks report they have integrated fintech into their offerings.
WASHINGTON—The CFPB's advisory councils will meet in Washington March 11-12 to discuss various efforts currently underway at the Bureau, including small business lending data collection, preventing elder financial fraud, and more.