11/23/22 Several Credit Unions on the East Coast Plan Mergers (Credit Union Times)   While credit unions in California and Washington claimed their consolidations had just been completed, those in Connecticut, New York, and Maryland recently announced potential mergers. The State of Connecticut Department of Banking received a merger application from the $1.1 billion Sikorsky Financial Credit Union in Stratford, Conn., …

10/28/22 Trends & Challenges in Protecting CUs From Cyber-Attacks in 2022 & Beyond (Credit Union Times)   As we enter a new year, we may assess what trends are helpful for shielding credit unions from cyber threats as well as what difficulties may come up in the future as credit unions continue to be a top target for hackers. When creating …

09/26/22 Credit Unions Join With Bank Groups in Opposition to Credit Card Bill in House (CU Today)   NAFCU and CUNA have signed a letter to Congress opposing the House companion to the Credit Card Competition Act of 2022, along with the American Bankers Association, the Consumer Bankers Association, the Electronic Payments Coalition, and the Independent Community Bankers of America (CCCA). …

08/25/22 Spike in Credit Union Auto Share Confirmed by Experian Data (Credit Union Times)   According to Experian reports, credit union established records for both new and used car financing, while the prior records were set during the first quarter of this year. On the basis of balances, credit unions accounted for 33.7% of all auto loans in the country during …

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 …