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Credit unions already operate under a statutory interest-rate cap that is far lower than what applies to banks and other lenders. For decades, federal credit unions have been generally limited to an interest rate of 15% (currently 18% under a temporary allowance) on loans – a policy reflecting the credit union mission of putting people over profits. This long-standing cap, combined with credit unions’ not-for-profit structure, ensures that credit unions strive to offer affordable credit to their member-owners.

WASHINGTON--The Defense Credit Union Council has sent a letter to President Donald Trump warning that a proposed 10% cap on credit card interest rates could backfire on the very consumers it is intended to help, particularly younger servicemembers, junior enlisted personnel, and lower-income military families who lack prime credit profiles.

SAN DIEGO — The planned merger between California Coast Credit Union and San Diego County Credit Union—first announced in April 2025—has moved from integration planning to the courthouse, with a lawsuit now challenging the attempted termination of the merger agreement and effectively freezing next steps as the dispute plays out.

LIVONIA, Mich.—Zeal Credit Union has agreed to acquire substantially all of the assets and liabilities of The Miners State Bank and its holding company, MSB Bankshares, Inc., in an all-cash transaction, the institutions announced.