Category Archive

03/13/23 Regulators backstop SVB deposits, launch emergency lending facility (Banking Dive)   Silicon Valley Bank’s depositors have been granted full access to their funds by the Federal Deposit Insurance Corp, which took emergency measures to prevent the spread of financial instability in the banking industry. In addition, the Federal Reserve has established a $25 billion lending facility to provide liquidity to …

02/24/23 High Interest Rates At Banks Make Alternative Lenders More Attractive For Small Business Borrowers (Forbes) As interest rates for SBA and traditional term loans increase, non-bank lenders are becoming a more appealing option for companies seeking working capital. Although non-bank lenders offer slightly higher rates, borrowers are drawn to their quicker and more reliable funding options. Long-term interest rates, …

01/30/23 Most Americans Anticipating a Fed Rate Increase; Analysis Shows What Increase Will Cost People (CU Today)   With the Federal Reserve probably expected to raise rates again, a new consumer poll reveals that most Americans anticipate inflation to aggravate. According to the WalletHub poll, two-thirds of Americans believe inflation will be worse in 2023 than in 2022, with 87% of …

12/27/22 CUs Continue to Lure Certificates by Offering Higher Rates; FECU Caps Deposits at $5 Million (CU Today) A range of captivating rates is being offered by CUs all around the nation as they look for inflow of funds. First Entertainment Credit Union is one of the CUs providing a 15-month Special Term Savings Certificate with a 5% APY, requiring …

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 …

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 …