MonJa’s Digital Banking and Lending Monthly Roundup | July 2022
07/25/22 Credit union loans increased 2.3% in May (Credit Union National Association) According to CUNA’s latest Monthly Credit Union Estimates, credit union loans outstanding jumped 2.3% in May, compared to a 1.9% growth in April 2022. Other mortgage loans dominated loan growth for the month, increasing 3.5%, followed by unsecured personal loans, which rose 3%. Credit union savings holdings fell …
Online Lending Monthly News – July 2022
MonJa’s Digital Banking and Lending Monthly Roundup | June 2022
06/27/22 In Response to Changes in Consumer Behavior, Major Bank Plans to Redesign Branches (CU Today) For around ten years, PNC has been experimenting with tellerless branches with prototypes located in Wilkinsburg and Bakery Square in Larimer. PNC Bank intends to convert approximately 60% of its branches countrywide over the following five years to a new technology-focused model that does …
Online Lending Monthly News – June 2022
MonJa’s Digital Banking and Lending Monthly Roundup | May 2022
05/31/22 CU Economist Puts Odds Against Recession (Credit Union Times) According to CUNA Chief Economist Mike Schenk, the likelihood of a recession by the end of 2023 are minimal. The start of a recession is usually defined by two consecutive quarterly declines in GDP. Schenk believes that economic growth will pick up in the second quarter and will be significant. …
Online Lending Monthly News – May 2022
MonJa’s Digital Banking and Lending Monthly Roundup | April 2022
04/28/22 SBA direct lending will harm local financial institutions’ relationships (CUInsight) In most cases, the SBA does not act as a direct lender but rather ensures the repayment of loans provided by a credit union or another lender. In regards to that, the CUNA wrote to the House and Senate Small Business Committees stating that the effective approach for a …
Online Lending Monthly News – April 2022
MonJa’s Digital Banking and Lending Monthly Roundup | March 2022
03/28/22 The strategic cryptocurrency opportunity for credit unions (CUInsight) There is growing mainstream curiosity and inquisitiveness about cryptocurrency, especially among Gen Z and millennials. It now may be the time for credit unions to enter the cryptocurrency market as part of their attempts to acquire and retain Gen Z and millennial members. In December, the NCUA released guidelines emphasizing that …