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RANCHO CUCAMONGA, Calif.—There’s a “splintering” of member relationships taking place right now, according to one analyst who stresses if many credit unions don’t change their focus they will be left behind as members move on.

NEW YORK–There are a total of 416 community development financial institution (CDFI) credit unions in the U.S. as 2021 comes to a close, the highest number in history, according to Inclusiv.

ARLINGTON, Va.—Total retail sales grew 0.3% in November after increasing 1.8% in October, and one economist believes the data could indicate inflationary pressures are easing.

NAIROBI, Kenya–Digital banking startup Kwara has raised $4 million in a seed funding round to further develop its neobank app in Kenya as it seeks to turn traditional savings cooperatives into modern digital banks, according to the company.

ARLINGTON, Va.—NAFCU has sent a letter to the Financial Accounting Standards Board (FASB) sharing the association’s response to the Proposed Accounting Standards Board Update that eliminates accounting guidance for troubled debt restructurings (TDR) and enhances certain disclosure requirements.

DALLAS—Consumers in 2022 intend to send remittances at the same levels they did in 2021, a new study from MoneyGram International is forecasting.

NEW YORK—Chase has entered into a new partnership that offers statement credits to cardholders who use an online service that says it says delivers thousands of products to consumers for a nominal fee.

SYRACUSE NY – Horizons, a Division of Empower Federal Credit Union, has hired Kevin Witmer as a Financial Associate Advisor.