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WASHINGTON–While the credit union focus on a massive defense bill now before Congress has been on provisions related to giving banks access to military bases, the legislation also includes what are being described as “widespread” changes to the Bank Secrecy Act and anti-money laundering (AML) laws.

ALEXANDRIA, Va.–During a rare two-day NCUA board meeting later this week, credit unions and their trade groups will be carefully watching the nine different items currently on the agendas, with special interest being paid to whether the agency is acting on any of the input provided on its 2021/22 budgets.

RALEIGH, N.C.–State Employees Credit Union (SECU) has announced support for Feeding the Carolinas with an additional $1 million donation to help the non-profit consortium of food banks combat growing food insecurity among North Carolinians as COVID-19 cases escalate.  

ARLINGTON, Va.—Net interest margins at credit unions have been “plummeting” as credit union share growth remains at an all-time high on a year-over-year basis and loan growth remains stable overall – heavily influenced by first mortgage real estate loans, NAFCU reported in a new analysis.

WASHINGTON–Both houses of Congress are in session this week, but what comes out by week’s end remains very much up in the air.

KINGSPORT, Tenn.– Eastman Credit Union has announced the payout of a $15 million extraordinary dividend to members, bringing the total member payout to more than $147 million since it began in 1998.

ALEXANDRIA, Va.–Noting it was a “long time coming” after six years in the making, the NCUA board has voted 3-0 in favor of expanded subordinated debt authority for natural-person credit unions.

ALEXANDRIA, Va.–The NCUA board has voted 2-1 in favor of a rule that makes changes to what’s required of overdraft policies at federal credit unions.

ALEXANDRIA, Va.–The NCUA board has voted 2-1 in favor of putting out for 30-day comment proposed rules related to mortgage servicing rights (MSRs).