PHILADELPHIA—The Justice Department has reached a settlement with Citadel Federal Credit Union, which has agreed to pay over $6.5 million to resolve allegations it engaged in a pattern or practice of lending discrimination by redlining predominantly Black and Hispanic neighborhoods in and around Philadelphia, DoJ announced.
WASHINGTON—The merger of $12-billion Digital FCU and $17-billion First Tech FCU already has Capitol Hill talking, according to a Washington insider who is concerned the mega merger may take CUs one step closer to taxation.
RICHLAND, Wash.—Only days after the annual record was set for credit union purchases of banks, the $2.4-billion HAPO Community Credit Union announced it has agreed to buy $632-million Community First Bank, based in Kennewick, Wash.
WASHINGTON –The Fannie Mae Home Purchase Sentiment Index increased 1.8 points in September to 73.9, its highest level in more than two years, as consumers reported survey-high optimism that mortgage rates will decline over the next 12 months, Fannie Mae reported.
CORVALLIS, Ore.--Saving for unexpected expenses, growing a retirement account and building credit are all critical factors in securing a stable financial future. For those who have been incarcerated, the challenge is magnified. Many walk out prisons’ gates and back into society without the tools needed to rebuild their lives and avoid recidivism.
DETROIT—It took some naivete, youthful optimism and a willingness to try something new to get credit union purchases of banks underway almost 15 years ago, said Michael Bell.
OKLAHOMA CITY, Okla.—If a credit union carefully manages its interest rate risk and has strong ALM practices, the new declining rate environment, sparked by the Fed’s recent 50 bp rate cut, can be easily managed, says WEOKIE FCU.
WASHINGTON—Noting defense credit unions are an active part of its membership with unique needs, America’s Credit Unions has created the Defense Credit Union Working Group.
ASHEVILLE, N.C.—Shelly Fender was “stunned” at what she saw when Hurricane Helene swept through Asheville, N.C., devastating the town with high winds and leaving historic flooding in its wake.
PERRY, Fla.—As the southeast begins to recover from massive Hurricane Helene that barreled through Florida before moving north, killing at least 90, early reports from credit unions indicate many will reopen Monday—with helping members recover from the disaster their priority.
