This year’s finalists are uncovering new ways to harness the power of technology to improve and expand lending across the industry.
With adjustable-rate mortgages back in fashion, credit unions are educating members about the ins and outs of these products, dispelling misunderstandings along the way.
Elevated interest rates make fixed-rate mortgages less attractive to borrowers. In today’s environment, adjustable-rate and balloon/hybrid options offer more attractive payments and short-term flexibility.
The Federal Reserve is projected to cut rates several times in 2024; however, soaring prices and dwindling savings still leave Americans with little incentive to make a big purchase.
As the market shifts and borrowing costs rise, adjustable-rate home loans are becoming popular once again.
Credit union mortgage market share is largely unchanged from one year ago; however, the percentage of adjustable-rate loans has jumped substantially.
Secondary market sales of burgeoning credit union mortgage share remains dominant, but credit unions are selling more loans to each other, too.
Volunteers help credit unions understand more clearly the needs and wants of the community. An active Board of Directors aids in membership and business growth.
PenFed’s large stake in unusual adjustable rate mortgages helps defend against rate hikes while bolstering its bottom line.
What are credit unions doing to increase their visibility in the mortgage market?
The annual conference offered insights on why service organizations remain a strategic asset for credit unions and how collaboration, AI, and advocacy are shaping what comes next.
Alltru FCU stopped treating education as the end goal. Now, financial empowerment guides product design, access, and risk decisions.
More than 50 million U.S. households earn less than the minimum average income needed to cover basic costs of living.
Automatic enrollment and community partnerships help the credit union foundation expand access to early savings for underserved families.
Studies show credit card debt and Buy Now, Pay Later usage continue to rise. Bigger increases could be around the corner.
The credit union completed a three acre headquarters campus in 2021 that offers 52% more space while consuming a fraction of the resources. It’s a model of how cooperatives can lead on sustainability without sacrificing performance.
CDFI credit unions might be fewer in number, but their impact reaches millions of members, and their footprint highlights how targeted mission can translate into broad, measurable reach.
Preventable fraud losses quietly erode credit union margins. The difference between a 25% and 6% loss rate isn’t risk. It’s execution.
Holy Rosary Credit Union has embedded itself into a local high school’s career and technical education program, offering scholarships, internships, and courses eligible for college credit.
Credit union leaders want to know where peers are placing their focus. These six priorities reflect how leadership teams are responding to change with intention and clarity.