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.
Hands-on work with artificial intelligence tools is future-proofing staff members, giving them the confidence to adopt new technology and embrace efficiencies.
Wages briefly caught up with inflation, but rising costs have pushed them back into negative territory. Here’s what that shift means for member finances and credit union performance.
Suncoast Credit Union balances near-term needs with longer-term bets, applying discipline to timing, valuation, and fit to decide when to invest and when to walk away.
Looking for quarterly data coverage, expert analysis, lessons from leading credit unions, and more? Callahan has it covered. Comparing top-level performance and digging into the details has never been easier.
First quarter data shows how rising costs are pushing consumers toward flexibility and reshaping borrowing and saving habits.
A dedicated CUSO holding company allows WSECU to move beyond building and back fintech partners it helps shape and scale.
Advancial FCU links internal service standards, employee feedback, and peer recognition to create a more consistent experience for both staff and members.
MSUFCU takes a hands-on approach to fintech, piloting solutions through its in-house lab before scaling and backing them through a wholly owned CUSO.
Affinity Plus FCU has a clear member service mantra: digital for daily, human when it’s hard. Its CEO and CFO share what that looks like in practice.
The New Hampshire cooperative shares how its fintech arm, Service Ventures, evaluates investments, balances risk, and defines success.