As the economic ramifications of COVID-19 swept through the country, the personal savings rate hit an all-time high as consumers moved their savings into deposit accounts.
During the social and economic uncertainty of the past several months, members and non-members turned to their financial institutions for help. Second quarter data tells that story.
Low interest rates and federal aid combined to create a surge in demand for home financing, as both refinances and purchases performed well in the second quarter.
Although the pandemic hindered consumer spending, some aspects of the credit union loan portfolio reported strong gains in the second quarter.
Chad Miller, CEO, Southwest Louisiana Credit Union, discusses his credit union’s work to serve the low-income, high-risk populations left behind by mainstream financial services.
Due to economic lockdowns and government relief efforts, in the second quarter financial institutions had to develop creative strategies to generate revenue.
The affects of a three-year pullback from indirect lending and the COVID-19 pandemic have resulted in a decade-long low in auto lending growth in the second quarter.
The Federal Reserve kept interest rates at record lows throughout the second quarter, and the economic uncertainty wrought by COVID-19 supported record inflows at financial institutions.Consequently, credit union investment portfolios reported strong growth
Gregg Brown, CEO, South Side Community Federal Credit Union, discusses his credit union’s mission to equalize economic power and to fight poverty on Chicago’s South Side.
Second quarter data highlights further impacts from the COVID-19 crisis on the credit union industry.
How exiting non-core business lines has helped UFCU sharpen its edge in consumer banking and build a future-ready organization.
SF Fire Credit Union’s head of marketing shares how embracing the credit union’s history as a SEG for firefighters supports growth and brand awareness in a competitive market.
Ignoring the financial needs of small and medium-sized businesses could mean ignoring the needs of your communities
First Financial of Maryland is cultivating cross-functional leadership and breaking down silos through a hands-on experience designed to spark inspiration and unify culture around the member experience.
A longstanding program that spotlights small businesses and local organizations deepens ties and reinforces the credit union’s commitment to community prosperity.
Regardless of what’s going on politically, the needs for education financing won’t wait.
The Texas cooperative takes fun and philanthropy to the next level with a real-world business challenge that raised more than $57,000 for charity in one semester alone.
For the first time in 15 years, salary growth for loyal employees outpaces those who leap from job to job.
Data analytics help credit unions identify and serve unmet credit needs that result in enhanced member satisfaction and loyalty.
Intuitive design, advanced security, and ongoing innovation helps credit unions secure their future in a financial industry full of tech-savvy members.