NEW YORK–Zogo Finance, a mobile-first financial literacy solution, was named Best in Show winner during the Finovate fall conference here. Approximately 75 companies made pitches for their products and solutions as part of the competition. The award was accepted by Bolun Li, CEO and founder of Zogo Finance.
Fresh Today
ARLINGTON, Va.—Auto sales increased to 17.2 million annualized units in September, continuing a streak from 2015 that NAFCU Chief Economist and Vice President of Research Curt Long described as "remarkably stable…despite a large shift in consumer preferences from autos to light trucks."
MADISON, Wis.–The Worldwide Foundation for Credit Unions, the charitable arm of World Council of Credit Unions, said it is now distributing Project Storm Break funds to help two credit unions in The Bahamas repair infrastructure and replace equipment damaged by Hurricane Dorian.
WASHINGTON—Low-income credit unions added secondary capital during the first six months of 2019.
ATLANTA– A new study has found lending fraud financially hits smaller banks, credit unions and digital lenders at twice the rate of larger competitors, with fraud monetary losses for smaller banks amounting to 4.5% and 5.8% of overall revenue, compared to 2.9% for larger institutions.
CORALVILLE, Iowa–GreenState Credit Union has entered into a 10-year naming rights deal for the fieldhouse being built here as part of a new arena.
FRISCO, Texas–The number of fintechs will surpass the number of credit unions within the next few years, according to one person, who advised CUs to recognize the $86 billion invested in fintechs during 2018 deserves attention.
WASHINGTON–The CFPB has named the members of its Credit Union Advisory Council, as well as members of its Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC).
WASHINGTON—Mortgage production approached $2.0 trillion at year-end 2018, with credit unions accounted for $142.2 billion of that total, according to data from the recently released Home Mortgage Disclosure Act (HMDA).
LOS ANGELES–Inclusive presented its Annie Vamper Helping Hands Awards to Maurice Smith, CEO of Local Government Federal Credit Union and Civic Federal Credit Union.