DETROIT–Seven Michigan credit unions are forming a bank. The Michigan Department of Insurance and Financial Services has accepted the application from the credit unions, and now has 100 days to approve the new charter.
Fresh Today
PHOENIX—When it comes to turning around the fortunes of a struggling credit union, if the CEO is not paying close attention to the organization’s culture, all the strategies and tactics in the world won’t make any difference, according to Jane Dobbs.
ARLINGTON, Va.—As CUToday.info reported earlier, Commerce Department data show the 4.1% growth in Q2 was the fastest in four years. And that has credit unions wondering how much longer the good times can last.
GAINESVILLE, Fla.–A new Back-to-School study released by CardRates.com has found 87% of Americans say they plan to pay off their back-to-school purchases made with a credit card (or cash) before the end of the year, with 37% paying off credit cards within one to two months and 9% doing so within three-six months.
WASHINGTON—Mitigating losses from data breaches remains a top credit union priority, CUNA wrote to Rep. Bob Latta (R-OH), chair of the House Energy and Commerce subcommittee on digital commerce and consumer protection.
FORT MILL, S.C.—The $1.6-billion Sharonview FCU is relocating its corporate headquarters.
WASHINGTON–CUNA is calling on NCUA to expand opportunities for credit unions to provide small-dollar, short-term loans.
BROOKFIELD, Wis.—Fiserv said it has entered into an alliance with cybersecurity firm BlueVoyant that the companies say will deliver a comprehensive managed security platform that specifically addresses the unique needs of financial institutions – from threat detection, response and remediation to regulatory compliance and reporting.
JACKSON, Miss. – Hope Enterprise Corporation and Hope Credit Union (HOPE) here are reporting they provided a record $100 million in financing to address financial services gaps in low-income, minority and rural communities across the Deep South.
HAGERSTOWN, Md.–One auto dealer is citing a reason that might surprise many in credit unions for the reason the dealership is doing more lending business with CUs.