GERMANTOWN, Md.—It required a great deal of “hard work” for SkyPoint FCU to finally close on a $7-million investment as part of the U.S. Treasury’s new Emergency Capital Investment Program (ECIP), but now the credit union is saying all of the hours and effort are worth it since the funds will bring the cooperative “transformative growth.”
TAMPA, Fla.—Noting that small credit unions are at an inflection point when it comes to the ability to afford the kinds of technologies members have come to expect, Laida Garica said she still asks a question she raised early in her career: “Why aren’t more small shops collaborating?
DETROIT—Concerns with the economy and the Fed rate hikes put an end to what was expected to be a big, record-breaking year for credit union purchases of banks in 2022. Now, the pioneer of these deals, says the pace of credit union acquisitions of banks in 2023 will depend on those same factors.
COSTA MESA, Calif—Things could get “very interesting” for electric vehicles (EVs) over the next few years, according to Experian, which is emphasizing that both the market and lenders are still trying to figure out numerous questions, but the trend lines are clear.
LOMBARD, Ill.—A “cogent” pricing strategy has never been more critical for credit unions as rising rates and competitive offers lure deposits away from liquid accounts, says Bill Handel.
RALEIGH, N.C.—One of the most successful cooperative partnerships in the U.S. credit union community is ending, and Maurice Smith, CEO of Local Government FCU, which has worked closely with State Employees’ Credit Union in North Carolina, says there is some critical knowledge the movement can take away from the 40-year collaboration.
LAKE FOREST, Ill.—Just 23% of the 8,603 banks, credit unions, thrifts and fintechs that offer checking accounts make money on them, according to a new study. And the person behind the analysis is saying if various groups “continue their assault” on these transaction accounts, consumers will ultimately pay the price.
MADISON, Wis.–Small credit unions can “thrive,” according to a CEO who has turned around a once-struggling small CU, but it requires a willingness to take some risks, do things differently (in this case, very differently), challenge the board and even challenge one’s self as a leader. And the regulators probably aren't going to like it, either.
MADISON, Wis.–Those small credit unions that aren’t just surviving but defying “stereotypes” and thriving are doing so because their leaders have a “puzzle-solving mindset,” according to new research being released by Filene and CUNA Mutual.
SAN CARLOS, Calif.—Apple’s new savings account for Apple Card should be a “wake-up call” for credit unions, says one analyst, who is urging CUs to respond in the right way or risk losing deposits and member relationships.
