MADISON, Wis.–Credit union loan balances and membership growth both slowed during April, with the number of new members joining CUs down significantly. Adjustable-rate mortgages showed surprising growth however, while net charge-offs showed a small decrease.
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AMARILLO, Texas–Education Credit Union here has named a new CEO. The $268-million ECU said it has selected Eric Jenkins to lead the organization.
WINSTON-SALEM, N.C.–Truliant Federal Credit Union has filed a lawsuit against BB&T and SunTrust Banks as they plan to merge and form a new $28-billion bank to be called Truist. The credit union’s complaint alleges the new name is too similar sounding to its own.
WESTERLY, R.I.–Joseph N. Cugini, well-known to many in credit unions for his long career in the movement, has died. Mr. Cugini was 89.
PLEASANTON, Calif.–Patelco Credit Union has launched a gamification promotion called “Play. Save. Win.” to encourage people to save.
SAN FRANCISCO—The Ninth Circuit Court of Appeals has ruled the Telephone Consumer Protection Act's (TCPA) government-backed debt collection exception violates the First Amendment.
MADISON, Wis.—Summit Credit Union has launched its 11th Project Money competition by selecting its 2019 participants.
WASHINGTON—Most consumers think their credit card rates are too high and predict the Federal Reserve will reduce rates by Fall, a new study reveals. The Fed’s Open Market Committee will announce later today whether it opted to adjust rates.
MASSENA, N.Y.–SeaComm FCU here has signed on as the first major sponsor for a well-known fishing tournament that will debut here in September.
OSHKOSH, Wis.—Verve, a Credit Union said it plans to acquire South Central Bank NA, a $300-million community bank based in the Chicago area.