WASHINGTON—The one-year delay for credit unions of CECL’s implementation date is likely not an indication FASB is considering exempting CUs from compliance. Instead, say experts, what the additional time will do is help credit unions better prepare for the guidelines and also learn from others.
PORTLAND, Ore.—The risk of data breaches from internal staff is growing, reports one cybersecurity firm, which says the average cost for an internal breach is $8.7 million.
GIBSONIA, Penn.–Credit union employees at a number of NASA-related facilities have a unique, upfront and personal look at events this week celebrating the 50thanniversary of man landing on the moon, but one credit union’s 11% APY may be the biggest attention-getter.
FAIRFAX, Va.–For a long time, Apple FCU fought the connection between its name and that of the much-better known technology brand, telling consumers they should not confuse the former teachers CU with the international icon.
LINCOLN, Neb.–Recent lawsuits filed by state banking groups challenging a field of membership expansion won’t be the last time Nebraska’s state-charters face such threats, says Scott Sullivan, president of the Nebraska CU League.
SEATTLE–Today is the second day of the now two-day-long Amazon Prime Day sale and a number of credit unions and other financial institutions across the U.S. are seeking to entice their cardholders to use their plastic for any purchases.
ONTARIO, Calif.—The mortgage market has moved right into credit unions’ sweet spot, according to one expert, who adds that if CUs are to capitalize on the shift they must begin offering new solutions.
BROOKFIELD, Wis.—If a credit union really wants to capture more Millennial members, it must change how it handles its financial education offerings—but not what the CU is talking about—instead, how it is delivering the message, asserts Fiserv.
NEW YORK–A new report on this city’s troubled taxi medallion industry has found two-thirds of the medallion loans that have many borrowers in financial straits were issued by credit unions, and that those same CUs—in some cases represented by NCUA–are “least willing” to work with borrowers on new repayment plans.
CEDAR CITY, Utah.—As the granddaughter of a credit union pioneer and the daughter of a father and mother who both ran CUs, credit unions have been with Sue Longson since a very young age. Today, Longson has concerns over where credit unions might be a generation or two from now.