LAKE FOREST, Ill.—A new study predicts that if the federal government steps in to control overdrafts many consumers will leave the traditional banking market, nearly half of credit unions will go out of business, and thousands of FI employees will lose their jobs.
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BURLINGAME, Calif.—Is it time credit unions go back to a subscription-based checking model?
OAK HARBOR, Ohio—Should the CFPB issue some strong rules around overdrafts or require many institutions to dramatically lower their fees, a large number of small credit unions will be forced to seek a merger partner, says the leader of one small CU.
LAKE TAPPS, Wash.—It’s become an ethical question for the aging CEOs and managers of many struggling credit unions, according to one person—do they seek out a merger in order to provide members with more services, or do they hang on until they get paid?
BROOKFIELD, Wis.—Credit unions don’t want to be the “last man standing” when it comes to charging overdraft fees, and to avoid that fate means the death of free checking at cooperatives, according to one analyst.
MONTPELIER, Vt.–The group opposing the merger of the $1.088-billion Vermont State Employees Credit Union—including its former CEO--with $1.94-billion New England FCU remains committed to blocking the deal, and their position has not changed following VSECU’s recent annual meeting, which one person called “member unfriendly.”
PANAMA CITY, Fla.—Seeking to lower its costs per transaction and nudge a stubborn group of brick-and-mortar-using members to digital services, Tyndall FCU took a new approach to its year-end giveback.
PHILADELPHIA—It’s time all credit unions revisit their overdraft programs to see if adjustments need to be made, but it’s certainly not time to overreact to “big bank headlines,” according to one credit union CEO.
NELSON, New Zealand—The war in Ukraine could slow ransomware attacks in the U.S., security experts state, adding that may be the only upside to the impact on cyber threats from the growing Eastern Europe conflict.
WASHINGTON—The Credit Union Cherry Blossom Ten Mile Run was back in its traditional time slot this past weekend—after the pandemic canceled one event and postponed another—drawing more than 15,000 participants and raising more than $323,000 for Children’s Miracle Network Hospitals.