LIVONIA, Mich.—Just as Save to Win is designed to teach low-income members to put money away a little at a time so it builds, the program itself started small and has grown—poised to expand across several states.
SCHAUMBURG, Ill.—Terms for new and used car loans continue to rise, as well as leasing interest, according to a new report.
WASHINGTON—A new report by the Treasury’s Financial Crimes Enforcement Network (FinCEN) shines a light on money services businesses (MSBs) and their interactions with financial institutions—particularly credit unions.
BEAVERCREEK, Ohio—Wright-Patt Credit Union has released Android smartwatch functionality, saying it is seeking to be where many members may well be heading with mobility.
DES MOINES, Iowa—It’s too soon to call whether just-introduced Android Pay or Apple Pay has a leg up with mobile payments, says one expert who feels Google’s new payments solution does signal a consolidation in the direction of mobile POS.
COSTA MESA, Calif.—Another analysis is raising concerns over the potential for rising delinquencies in home equity loan portfolios across the country.
ARLINGTON, Va.—Is NCUA exempting CUs $100 million in assets and smaller from risk-based capital rules another step in the agency bifurcating the credit union community? And is the agency headed toward the same fate as the now-defunct Office of Thrift Supervision?
MADISON, Wis.—A new wave of class-action lawsuits may be headed CUs’ way, and this time they target overdraft programs. Some say the lawsuits could lead to large losses in court.
LAS VEGAS—Do credit unions have an untapped $391-billion lending market opportunity? New research would suggest that is the case, and an initiative is being launched aimed at penetrating that potentially huge new source of loans.
LAS VEGAS—Seeking to get to the “Holy Grail” of new membership, CU Direct has made a majority investment in Intuvo, a Scotts Valley, Calif.-based provider of an automated software platform for personalized marketing via email, direct mail and sales force automation. At the same time, the company has also announced it has filed for a patent on a new loan beacon device.