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Branch office deposit data is among the most confidential information at a bank, especially those with many branches. Why have regulators made this sensitive competitive data public for banks and thrifts annually for over 50 years but not for credit unions?
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The Navy Federal scandal is just the tip of the iceberg. After looking away for 20 years, Congress needs to focus on providing real oversight of the credit union industry.
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An advocate for the credit union industry pushes back against "tired" and "recycled" criticism from bankers.
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The nation's largest credit union allegedly engaged in racial discrimination resulting in calls for further investigations and regulations. Had Navy Federal been subject to the Community Reinvestment Act it may have avoided this problem.
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The country's largest credit union is learning the hard way that failure to assure inclusivity in lending practices is a recipe for both financial and reputational damage.
Leaders that have created virtual "branches" weighed in at American Banker's Digital Banking conference on how to approach implementation and what results have been like.
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The Minneapolis-based Thrivent Financial for Lutherans received approval from the Federal Deposit Insurance Corp. on Friday for its industrial loan company application and planned merger between the institution and subsidiary Thrivent Federal Credit Union.
June 21
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Statewide Federal Credit Union in Flowood used its partnerships with Bankjoy and Strum Platforms to identify untapped communities in its field of membership and aggressively market its inaugural high-yield savings account.
June 14
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BNY, the country's oldest bank, drops "Mellon" from its branding; Apple FCU announces plans to merge with NextMark Credit Union; Moelis probes incident after a video circulated online shows one of its senior bankers appearing to punch a woman; and more in this week's banking news roundup.
June 14
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The Kansas financial institution is using Copper Financial's Guided Investing product that matches members to predesigned portfolios that suit their risk profile.
June 5
The institution took the lead spot in American Banker's annual ranking of Best Credit Unions to Work For in part by giving employees freedom and flexibility in how they do their jobs.
New policies, aided by partnerships with local organizations, are helping credit unions make significant progress on DEI.
The 70 institutions on this year's list create a great work environment by offering robust benefits, recognizing a job well done and providing clear communication from the C-suite.