WASHINGTON—Credit unions have advantages—and disadvantages—when bidding to buy a bank, insists one expert who said the growing trend of CUs buying banks will not continue “unabated.”
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MILWAUKEE—Looking to increase its “cool factor” and in the process attract younger members, one credit union is considering creating a “bar atmosphere” inside one of its branches.
JACKSON, Mich.—Calling it a gift that keeps on giving well past this Thanksgiving, the Southern Michigan Chapter of Credit Unions (So-Mi Chapter) is donating $25,500 to wipe out $2.5 million in medical debt owed by 3,182 consumers in this state.
SACRAMENTO, Calif.—With no desire to remain “the best kept secret” in its markets, SAFE FCU is investing $23 million over 25 years to obtain the naming rights to a number of high-profile venues as part of a downtown revitalization effort here.
WASHINGTON—Credit unions could face another wave of lawsuits following USAA’s $200-million judgement against Wells Fargo.
LIVONIA, Mich.—When the Michigan CU League launched Save to Win 10 years ago, the objective was to find a new way to inspire people to build savings. No one had any idea that a decade later it would become so big and inspire so many.
LAKE FOREST, Ill.—A new report indicates credit unions are not paying as much for deposits as banks, and that could hurt many CUs as interest rates shift.
RALEIGH-DURHAM, N.C.–To really think about what debt and credit mean for people—how debt feels for people—it’s best to think of both in terms of “financial citizenship.” And to make people full financial citizens, credit unions were told they need to change their approaches to financial literacy, according to one sociologist.
PALO ALTO, Calif.–Plans by Google to get into the checking account business by initially partnering with one credit union and one bank has far less to do with getting further into the financial business and far more to do with another motivation—and it’s going to have strong implications for CUs, analysts told CUToday.info.
WASHINGTON—In response to a proposal by a member of the NCUA board, credit unions and their trade groups are saying another exam is not the answer to address credit union compliance with consumer laws—instead better support tools are needed.