BISMARCK, N.D.–The Credit Union Association of the Dakotas is reporting it has been gathering information from its member credit unions almost since the coronavirus pandemic began hitting the U.S., and says it has now compiled a long list of all the “outstanding efforts” credit unions in North and South Dakota have made to serve members.
MIAMI BEACH, Fla.–In a precursor to what surely will be additional such revelations, a Florida man who had been deeply in debt has been arrested after receiving nearly $4 million in funds from the Paycheck Protection Program and after buying a new blue Lamborghini Huracán Evo, which cost more than $318,000.
EL PASO, Texas–El Paso Area Teachers Federal Credit Union (TFCU) has introduced its first in a new branch design that is more compact and pod-like. The CU introduced the new branch using a virtual ribbon cutting held live on Facebook and Instagram.
WASHINGTON—The ongoing coronavirus pandemic has led the Federal Reserve to extend several of its lending facilities to Dec. 31. The facilities had been scheduled to expire near the end of September.
MADISON, Wis.–The effects of the coronavirus pandemic upon credit unions is readily apparent in the latest Trends Report released by CUNA Mutual, which finds auto loan balances as part of the overall portfolio at their lowest point in five years, credit card balances seeing their “biggest drop in history,” and which further projects loan delinquencies to double by the end of this year.
WASHINGTON—The Senate Banking Committee is set to vote on the nomination of Kyle Hauptman to the NCUA board during an executive session Thursday.
ST. PETERSBURG, Fla.–Overall card payment volumes were down moderately for the week ending July 19, according to the latest data released by PSCU.
ALEXANDRIA, Va.—In response to the NCUA's proposal to amend the agency's corporate credit union rules, NAFCU has expressed general support for the effort to provide greater flexibility and ease regulatory burden, and detailed credit union members' feedback on the proposed amendments.
WASHINGTON—Senate Republicans this week began rolling out components of their proposed Phase 4 relief package called the HEALS Act (Health; Economic Assistance; Liability Protection; and Schools Act). The HEALS Act includes additional assistance for small businesses through the SBA’s Paycheck Protection Program (and 7(a) program, worker and business protections and funding for schools to reopen, as well as another round of economic impact payments to consumers among other steps.
SANTA CLARA COUNTY, Calif.–Excite Credit Union here is participating in a pilot program that provides Universal Basic Income to young people transitioning out of the county’s foster care system.
