Advanced search

O'FALLON, Ill. – A number of credit unions nationally have gotten involved in helping to fill the national shortage of surgical masks during the coronavirus pandemic.

HARRISBURG, Penn.—Pennsylvania Attorney General Josh Shapiro has announced the launch of “PA CARE Package,” a consumer relief initiative.

WASHINGTON—The Federal Reserve has published an interim final rule to lower reserve ratios on transaction accounts maintained at depository institutions to 0%, providing flexibility to credit unions under the Regulation D limit.

WASHINGTON—CUNA’s latest Member Activation Program (MAP) template is now available for credit unions to communicate what the passage of the CARES Act means for credit unions, both in terms of lending to member businesses and stimulus payments to consumers.

MADISON, Wis.–Lending volume at credit unions will grow just 3% this year, yield-on-asset ratios could also fall to 3%, the lowest in credit union history, and ROA will likely decline to 0.5% in 2020, according to new projections from CUNA Mutual Group.

DUBUQUE, Iowa—To help credit union members financially impacted by the COVID-19 pandemic, the Iowa Credit Union Foundation is providing $500 grants to eligible individuals and small business owners.

IRVINE, Calif.—It’s time credit unions pay extremely close attention to margins and get in line to deliver their share of the massive Small Business Administration loan dollars available under the CARES Act, says one economist, who admits to being nervous over the financial recovery from the pandemic.

NEW YORK–Demand for the kinds of relief programs credit unions are offering in response to the coronavirus pandemic is likely to only increase with new government data showing a record 6.6-million American workers filed for unemployment on March 28.

RANCHO CUCAMONGA, Calif. – CO-OP Financial Services has announced a series of programs for its Full-Service Credit clients it said are designed to help them address the financial stress their members may be experiencing as a result of the COVID-19 outbreak.

WASHINGTON–Saying it is seeking to ease strains in the Treasury market resulting from the coronavirus and increase banking organizations' ability to provide credit to households and businesses, the Federal Reserve Board has announced a temporary change to its supplementary leverage ratio rule.