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RANCHO CUCAMONGA, Calif.—The COVID-19 crisis is changing the way consumers interact with payments, and only putting new emphasis on the need for credit unions to respond strategically, according to one person.

WESTPORT, Conn.–The average ransom paid by victims in ransomware attackers reached $111,605 in the first quarter of this year, up 33% from the previous quarter, according to new data from ransomware incident response firm Coveware.

BOCA RATON, Fla.–New data has been released offering an update on the health of millions of small and mid-sized American businesses.

HALIFAX, Nova Scotia–Canada and its provinces are also offering small businesses financial assistance as the result of COVID-19, and credit unions are participating in the various programs.

DES MOINES, Iowa – Coopera is hosting a webinar on May 13 to provide credit unions with insights on why underserved members are drawn to predatory loans, which is likely to be a growing issue as unemployment rises during the pandemic.

YORK, Penn.–Two Pennsylvania credit unions are merging. The $86-million White Rose Credit Union said it will be absorbing via merger the $1.9-million Local 229 IBEW FCU, which had approximately 500 members.

WASHINGTON–Three pieces of legislation have been introduced in Congress that, if enacted, would have a bearing on credit unions, including legislation related to an exemption for member business loans in both the House and Senate. Separately, the Defense Credit Union Council has expressed its support for NCUA's decision last week related to service members and qualifying for CDFI status.

Vehicle sales are picking up in at least one part of the country and there is some optimism the same could occur in other parts of the nation as businesses reopen and Americans step out of quarantine, according to one person.

UNITY, Maine – Maine Harvest Credit Federal Union (MHFCU) has accepted its first deposit, becoming Maine’s 55th credit union and the United States’ first-and-only to be focused on food entrepreneurs and farmers.