ALEXANDRIA, Va.–Federally insured credit unions reported net income growth of $11.9 billion in the second quarter of 2021, or 126.8%, over the same period in 2021, according to the latest financial performance data released by NCUA.
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FDIC-Insured Banks Report 281% Increase in Net Income in Q2, Despite Record Low Net Interest Margins
WASHINGTON—The nation’s FDIC-insured banks reported aggregate net income of $70.4-billion during the second quarter of 2021, an increase of $51.9 billion (281%) from one year earlier, even though net interest margin hit an all-time low, according to the agency.
CHICAGO–A new research brief from the Filene Research Institute and TransUnion offers insights into how credit unions can adapt lending strategies to better compete in an evolving landscape while also expanding financial inclusion efforts.
FAIRHOPE, Ala.–A truck full of supplies assembled by CU*South has distributed much-needed supplies in New Orleans, where many credit unions remain without power more than a week after Hurricane Ida struck.
WASHINGTON—The Fannie Mae Home Purchase Sentiment Index (HPSI) was largely unchanged in August, decreasing 0.1 points to 75.7, as survey respondents tempered both their recent pessimism about homebuying conditions and their upward expectations of home price growth, according to the company.
WASHINGTON—CUNA said it generally supports the Federal Housing Finance Agency’s (FHFA) authority to enforce fair lending laws, but it is urging the agency to ensure this monitoring and enforcement does not generate costly new requirements or increased regulatory burden.
ALEXANDRIA, Va.–NRL Federal Credit Union is changing its name and brand.
OXFORD, N.C.–After 41 years in credit unions, H. Michael Dickerson, president of Oxford Credit Union, is retiring effective Sept. 10.
SAN SALVADOR, El Salvador — El Salvador has become the first country to adopt Bitcoin as legal tender, even though many of its citizens admit they don’t understand it, while at the same time analysts are expressing concerns around financial instability.
WASHINGTON–The Federal Trade Commission has approved final revisions that would bring several rules that implement parts of the Fair Credit Reporting Act (FCRA) in line with the Dodd-Frank Wall Street Reform and Consumer Protection Act.