FONTANA, Calif.—A new branch here is being shared by three different CUs and saving each of them money, demonstrating the credit union difference, and providing a real-world example of how cooperatives can cooperate.
THE feature
By Ray Birch
DALLAS—One ALM expert believes NCUA’s new rule on derivatives not only solves a “classic” dilemma for many of the very largest credit unions, it may also provide some assistance for credit unions further down the asset scale.
MIDLAND, Mich.—While credit unions have paid a lot of attention to those members who've been hit hard by the economy, one credit union said it has also not ignored those who have done well—and that has helped to drive 15% loan growth during the pandemic.
LAKE FOREST, Ill.—Ally Bank’s big announcement it will end overdraft charges is not as big as it seems—and the digital bank’s decision could have an impact on the overall OD market if a number of financial institutions react, two analysts are cautioning.
LAS VEGAS—The pandemic hit this city hard and even resulted in WestStar Credit Union losing a little money last year. The CEO’s reaction: he calls 2020 the CU’s “best year.”
NORTH LIBERTY, Iowa—Could the second-largest CU/bank buy—which reaches into two states and includes two banks—lead more credit unions to consider a similar move? And will the latest blockbuster agreement bring more banker attention to these deals?
FOND DU LAC, Wis.–With increasing demand for home equity products as consumers stay home and make improvements, one expert says lenders have to work hard to make HELOC borrowers out of consumers who don’t already have a first mortgage with them.
ST. PETERSBURG, Fla.—Credit unions have long been concerned about fintechs encroaching on their business, and buy now pay later (BNPL) is likely opening the door wider for the upstarts, says one analyst.
MIDLAND, Mich.—One CEO says it’s not an oxymoron—digital banking can be combined with personal service—and his credit union has stood behind that philosophy all the way to $2.1 billion in assets even with just one branch.
ALLEN, Texas—How does a credit union become so popular within its communities that homeowners associations invite the co-operative to their block parties? By introducing a food truck.