Advanced search

NEW YORK–The economic disruption caused by COVID-19 and the efforts to contain it will trigger a new cycle of rising defaults and losses in the commercial real estate lending sector, according to a new report.

WASHINGTON—In response to a request from the chairman of the Senate Banking Committee, the Defense Credit Union Council has sent a letter to NCUA offering ways the agency can make statutory changes to “promote lending and mitigate the economic impact of COVID-19 for consumers and businesses.”

WASHINGTON–The Treasury Department has announced the Community Development Financial Institutions Fund (CDFI Fund) will extend the upcoming application deadlines for its the fiscal year (FY) 2020 funding round of the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program).

HUTCHINSON, Kan.–Heartland Credit Union here has selected Trellance to provide it with its data analytics  solution. 

WASHINGTON—Total consumer credit rose 6.4% in February at a seasonally-adjusted, annualized rate – its highest level since July – and is up 4.5% from a year ago, according to the latest Federal Reserve data.

BAKERSFIELD, Calif.–Kern Schools FCU has officially changed its name. It is now Valley Strong Credit Union.

RALEIGH, N.C. – State Employees’ Credit Union and the SECU Foundation said they are committing up to $10 million to assist with COVID-19 disaster relief efforts across North Carolina, joining other CUs in such offers recently, such as Travis Credit Unoin in California which announced a $1 million initiative of its own

BASEL, Switzerland–Regulators around the world are responding to a request by the World Council of Credit Unions (WOCCU) for a delay in new Basel III accounting rules as a result of the coronavirus pandemic.

WASHINGTON—Both credit union trade groups have either met with or sent a letter to the CFPB to press for additional relief for credit unions during the coronavirus pandemic.