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.
Congress is considering new legislation around cryptocurrency, and these new tools could have profound implications for the industry.
A partnership with the Institute of Gerontology at Wayne State University has helped the credit union reduce reports of elder fraud by as much as 50%.
Faced with post-pandemic talent challenges, Desert Financial put a new spin on gathering and responding to employee feedback.
From employee engagement to community impact and beyond, these are the initiatives credit unions must focus on to stay aligned and prepared for the challenges ahead.
Three more credit union chiefs with tech backgrounds show how they adapt and innovate – and how other cooperatives can, too.
Credit union chiefs with tech backgrounds show how they adapt and innovate – and how other cooperatives can, too.
The next evolution in consumer payments — and credit unions that wait risk falling behind.
Suncoast Credit Union, in partnership with WithClutch and ModernFI, hosted its inaugural Create 2025 summit in May. Attendees included eight credit unions and nine fintech companies.
Digital experiences must be a direct reflection of the care and service credit unions are known for. Here’s where to start.
The New Hampshire cooperative recently launched Service Ventures, an independent investment arm that aims to work with startups that share a commitment to operational efficiency and member experience.