ALEXANDRIA, Va.– Total assets in federally insured credit unions rose by $96 billion (4.4%), over the year ending in the first quarter of 2024 to $2.31 trillion, total loans outstanding increased $71 billion (4.6%) to $1.60 trillion, and insured shares and deposits rose $40 billion (2.3%) to $1.77 trillion, from one year earlier, but the real number getting attention is the delinquency rate, which jumped 25 basis points compared with the first quarter of 2023.
Fresh Today
WASHINGTON— The Consumer Financial Protection Bureau (CFPB) has launched a process to recognize open banking standards.
NEW YORK–After a big spike in April, Trepp is reporting its CMBS delinquency rate dipped back below 5% in May—but the data comes with some caveats.
DES MOINES, Iowa — Iowa Governor Kim Reynolds has signed into law updates to the Iowa Credit Union Act that includes the ability to compensate board members.
WASHINGTON—Credit unions across the nation should be concerned about a proposed amendment to the House FY2025 National Defense Authorization Act (NDAA) recently introduced that would amend the Federal Credit Union Act, says Defense Credit Union Council (DCUC) President and CEO Anthony Hernandez.
ALEXANDRIA, Va.–NCUA’s Office of Financial Technology and Access said it has established “office hours” where representatives from credit unions, fintechs and CU associations can schedule time to speak about financial technology with representatives from the NCUA’s fintech and credit union programs.
WASHINGTON—There are several items of interest to credit unions in the Financial Services and General Government (FSGG) and State, Foreign Operations, and Related Programs (SFOPS) legislation for FY25, according to America’s Credit Unions.
WASHINGTON–In the wake of a recent Supreme Court ruling upholding the CFPB’s funding structure, language that would place CFPB under the appropriations process has been passed by the House Appropriations Financial Services Subcommittee in a voice vote.
KENSINGTON, Md.—Signal Financial FCU has launched a new brand, website, and “smart solutions” it said is tailored to providing its members with a “modern banking experience that fits seamlessly into their everyday lives.”
LOWELL, Mass.–Jeanne D’Arc Credit Union has introduced new youth education and financial wellness programs with a suite of products called “StartStrong.”