MINNEAPOLIS, Minn.—When Arise Community Credit Union opens its doors on Juneteenth, it won’t just mark the beginning of a new financial institution—it will symbolize a long-awaited promise kept to the communities of North Minneapolis and beyond.
SAN CARLOS, Calif.—A 1% shift. That’s all it would take. If just 1% of sales moved from a premium credit card to a retailer-issued stablecoin, retailers would save...
WASHINGTON—The Senate has released its version of the budget reconciliation bill and credit unions are not mentioned.
WASHINGTON—With similar arguments as another case that could upend long-standing legal precedent and redefine the limits of presidential power over independent federal agencies, the U.S. District Court for the District of Columbia held arguments late last week as ousted NCUA board members Todd Harper and Tanya Otsuka challenged their removals—raising constitutional questions that echo through similar legal battles now moving toward the Supreme Court.
WASHINGTON—Kindness alone is no longer a competitive differentiator, and credit unions must rethink what it means to deliver exceptional service, emphasizes Jeff Rendel, who added that today there is a big difference in business impact between being liked and being chosen.
EAST LANSING, Mich.—In a move to streamline operations, MSU Federal Credit Union has laid off 24 members of its IT division—a 15% reduction in that area, the credit union confirmed.
SCOTTSDALE, Ariz.—Credit unions are grappling with a systemic issue that threatens to hinder their growth and the effective execution of fintech solutions, says Cornerstone Advisors, which adds the problem lies in outdated manual processes that persist despite investments in automation tools and technology.
CINCINNATI—As long lines of concerned members continued Monday at Sharefax Credit Union offices—still seeking answers after a recent core system conversion caused widespread account issues—the $523-million institution said it is making progress in resolving the problems.
CINCINNATI—Another credit union is facing member backlash following problems with the rollout of new online and mobile banking applications that accompanied a core system conversion. The problems even forced one member to break into his daughter’s piggy bank to get money for his family.
WASHINGTON— When the $385-million Avenir Financial Credit Union recently acquired $195-million Mission Bank, it drew attention due to the relatively close asset sizes of the two institutions. The deal resembled almost a merger of equals—something rarely seen among the more than 100 previous credit union acquisitions of banks.
