America’s consumer watchdog has cancelled a $95 million fine against the country’s largest credit union. The Consumer Financial Protection Bureau (CFPB) levied that penalty against Navy Federal Credit Union last year, alleging the lender had charged its members illegal overdraft fees. But on Tuesday (July...
Credit unions closed 32 locations during the first quarter, the largest drop since 2021. As the publication Credit Union (CU) Times reported Tuesday (June 17), that brings the industry’s branch count to below pre-pandemic numbers. The report, based on an analysis of NCUA data, said...
As is the case with any entity, banks’ relationship with their end customers is only as strong as the trust that exists between the two, and in satisfying the priorities of their members. And right now, credit union members want to be reassured that their...
Credit union service organization Velera is sounding the alarm on “consumer-engaged” fraud. The group on Monday (March 3) announced it had released a guide on this type of fraud to help educate the financial services industry. “Consumer-engaged fraud is among the fastest growing and most prevalent industry fraud challenges that...
March 27, 2025
As is the case with any entity, banks’ relationship with their end customers is only as strong as the trust that exists between the two, and in satisfying the priorities of their members. And right now, credit union members want to be reassured that their data and their money is being kept safe. As detailed […]
August 27, 2024
In today’s financial services arena, embedded finance and banking-as-a-service (BaaS) have emerged as transformative forces, redefining the way banks and financial institutions (FIs) engage with consumers and businesses. At the...
July 10, 2024
Credit union (CU) members tend to value benefits such as personal service and a sense of community associated with CUs. Data reveals, however, that CU members increasingly show interest in...
June 13, 2024
Regardless of a credit union’s size, members expect digital-first capabilities that can compete with what for-profit financial institutions (FIs) offer. While many CUs are rising to the innovation challenge, there...
December 08, 2025
America’s federally insured credit unions saw their incomes jump 21% in the third quarter. That’s according to new data released Monday (Dec. 8) by the National Credit Union Administration, which showed total assets in federally insured credit unions (CUs) climbing by $86 billion, or 3.7% to $2.40 trillion. Total loans outstanding increased $72 billion, or […]
July 02, 2025
America’s consumer watchdog has cancelled a $95 million fine against the country’s largest credit union. The Consumer Financial Protection Bureau (CFPB) levied that penalty against Navy Federal Credit Union last...
June 18, 2025
Credit unions closed 32 locations during the first quarter, the largest drop since 2021. As the publication Credit Union (CU) Times reported Tuesday (June 17), that brings the industry’s branch...
March 03, 2025
Credit union service organization Velera is sounding the alarm on “consumer-engaged” fraud. The group on Monday (March 3) announced it had released a guide on this type of fraud to help educate...