Credit Unions in the News

Most Recent

Loan, share growth booming at Iowa credit union10/01/2015Business is booming for Iowa credit unions! Credit unions in Iowa have experienced tremendous growth in terms of share, loan growth, and membership this year.  In total, Iowa credit unions hold a loan portfolio of $9.7 billion, share and deposits increased to $11.3 billion, and added nearly 32,000 members. Iowa Credit Union League president/CEO Patrick Jury believes this is “evidence that consumers are doing better and that credit unions provide meaningful value in supporting their activities.”

Funding your future: how much money do you really need for retirement?09/30/2015Cyprus Credit Union gives TV viewers a timeline of when and how much money they should be saving for retirement. 

NYC’s credit unions give mom-and-pop stores a chance, despite gentrification09/29/2015Lower East Side People’s FCU steps in to help struggling mom-and-pop bakery survive gentrification in the Lower East Side of New York City.  

A simple way to grow America’s economy and create jobs09/29/2015Right-leaning Competitive Enterprise Institute and left-leaning Progressive Policy Institute agree that in order to help improve America’s economy and job market, Congress should increase the credit union member business lending cap. Credit unions could do more lending to small and new businesses if they were lifted from an outdated cap set by federal regulation in 1998. CUNA predicts that doubling the lending cap would create 152,200 new jobs. 

Maine credit unions donate $25,000 to fight childhood hunger09/28/2015The Maine Credit Union League presented a $25,000 check  to the Good Shepherd Food Bank to help combat hunger. Credit unions in Maine have donated a total of $6 million to help end hunger. 

Student-operated credit union opens at West Nassau High School09/25/2015Vystar Credit Union opened their newest branch inside West Nassau high school. Students will work at the credit union to provide services for students, teachers, and staff members.

Cut down on bank fees by joining a credit union09/17/2015If you’re tired of your bank nickel and diming you, it’s time to head to your nearest credit union – that’s the message the local ABC affiliate in Philadelphia had for its viewers this week!  The segment featured and how credit unions can get you started in the right financial direction. 

Georgia credit unions report 30 percent gain in new-auto loans09/16/2015Georgia credit unions reported a soar in new auto loans as well as an increase in membership. Thanks to an improving economy in Georgia, consumers are beginning to become more confident in their spending habits. Georgia Credit Union Affiliates president/CEO Mike Mercer explained, "Overall, membership and loan growth at Georgia credit unions continues to be positive, evidence that consumers are doing better and that credit unions provide meaningful value in supporting their activities."

Credit union donate 150 stuffed animals to united regional pediatric unit09/16/2015Texoma Community Credit Union and other local credit unions rallied together to deliver stuffed animals to local Children’s Miracle Network patients. The credit unions donated a total of 150 stuffed animals and have raised $30,000 in donations. 

Can you save thousands of dollars by buying a new car with a loan instead of cash?09/14/2015Nerdwallet created a hypothetical car purchase scenario and after crunching some numbers, they concluded that credit unions are consumer’s best financial option when looking for an auto loan thanks to our lower rates.

Despite diversity gains, white men still rule R.I. banking09/12/2015Ellen Ford discusses diversity in Rhode Island financial institutions and her career evolution from teller to president/CEO of People’s Credit Union.

Ask Stacy: is a credit union the best place for loans?09/08/2015Credit unions are the best place to go for a loan, according to MoneyTalkNews President/CEO Stacy Johnson.  In response to a reader's question, Johnson explains why credit unions are the preferred place for consumers to apply for a loan. Johnson has been consistent in advocating the financial benefits of credit unions over the past 24 years. 

Credit union 101: what's the difference, and why you should make the switch!09/04/2015It makes "sense and cents!"  Rachel Pross with the Huffington Post gives readers a quick "Credit Union 101" overview. Explaining the fundamental difference between for-profit banks and non-profit credit unions shows why Americans choose credit unions as their best financial partner.

Credit unions lobby to expand commercial lending09/04/2015Credit unions are urging Congress to expand the business lending cap that was authorized 17 years ago.  Jared Ross, senior vice president of associate services and governmental affairs at the League of Southeastern Credit Unions explains that in order to adapt to the changes within the community, credit unions need to have the 12.25% threshold removed. He added, "One thing that hasn't change is that members and small businesses need access to capital."

Credit union opens student-run branch in Goose Creek08/27/2015High school students are now running a Heritage Trust Federal Credit Union branch at their school.  The branch is open for business during the two-hour lunch period for students, staff, and faculty. “We saw a need on the student level to teach financial literacy — how to save, how to balance a checkbook and so forth,” said Jim McDaniel, president/CEO of Heritage Trust FCU. He commented on his hopes for the future observing the great opportunity to get into schools where these kids can have a hands-on experience in a work-style environment as part of their curriculum.” 

Credit unions see sizzling loan growth in June08/25/2015In June, 2015, America’s credit unions experienced a growth in membership and a 1.4% increase in loan portfolios.  According to the latest Credit Union Trends Report from CUNA Mutual Group, credit union lending and membership grew tremendously this summer. CUNA Mutual Group chief economist Steve Rick predicts "credit union mortgage lending should increase as improving financial positions among borrowers and rising incomes justify loosening credit standards."

Lessons learned on the ‘Road to Financial Wellness’ with Phroogal’s Jason Vitug08/21/2015Phroogal’s Jason Vitug gives CU Insight a post debrief on his epic month long ‘Rose to Financial Wellness’ journey in America. Vitug explains they surpassed their goal by hosting 37 events in 30 cities. Vitug explains the purpose of this nationwide road trip was to have money conversations with millennials and to inform them of the benefits of credit unions.

Rutgers again hunger provides snacks for New Brunswick children08/18/2015In conjunction with the Federal Summer Food Service Program, Affinity Federal Credit Union donates snacks to young children participating in New Brunswick’s summer Play S.A.F.E. Program

SECU president and CEO Rod Staatz named most admired CEO08/18/2015SECU president and CEO Rod Staatz has been named the Most Admired CEO Award by the Maryland Daily Record. As president and CEO for more than 12 years, Staatz has led the growth of SECU to become the largest credit union in Maryland. Staatz has also spearheaded SECU's ongoing work with young adults around financial literacy and has been a staunch supporter of the credit union's involvement in the community. 

Getting down to business with Questa Credit Union’s Maxine Rael08/17/2015Quest Credit Union manager Maxine Rael explains the "people-helping-people" philosophy of credit unions and many of the lessons learned in her 30 years with credit union.