Wanted: More credit unions

Logo American BankerAmerican Banker
2023-09-04 12:01:00  • 4 mins

"Well done is better than well said."

These wise words came from one of our nation's most quotable founders, Benjamin Franklin. His pithy quote came to mind as I thought about the many changes the National Credit Union Administration has recently made to improve the chartering process and its support of new credit unions. Indeed, the chartering of new credit unions to advance the financial security and prosperity of all Americans, especially those of modest means, is a core mission of the NCUA.

From 2012 through 2022, the number of federally insured credit unions annually decreased 3.5% on average, while the number of credit union members grew an average 3.7%. During that same 10-year period, the NCUA issued 27 new federal charters, with five more applications pending at this time.

While these numbers by no means indicate an increase in the overall number of credit unions as the consolidation of credit unions and banks has been consistent for decades across various economic and regulatory cycles they are a positive step forward in establishing more credit unions.

Continue read on americanbanker.com

Using its collaboration with the income-verification fintech Argyle, Georgia United Credit Union is combating fraud attempts, false documents and other...
Logo American BankerAmerican Banker
2023-09-25 21:46:43  • 1 min
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide 2022 Best News Website or Mobile Service Digital Media Awards Worldwide 2022...
An epic battle is playing out between two of the most influential men in the global economy right now; President Joe Biden and Federal Reserve Chairman...
Logo NasdaqNasdaq
2023-09-25 17:25:43  • 1 min
With the click of a mouse, hundreds of thousands of federal workers can print out pre-designed protest signs reading, "Stop the Shutdown," "Fund the...
Logo CBS NewsCBS News
2023-09-26 03:44:42  • 1 min
In one divorce announcement after another, high-profile couples are abiding by the golden rule of the schoolyard: If you cant say something nice, dont say...
Logo The New York TimesThe New York Times
2023-09-25 12:00:15  • 2 mins
Eight unions representing teachers and school workers, as well the body for governors, have written to Rishi Sunak demanding an extra 4.4bn annually to...
Logo The GuardianThe Guardian
2023-09-25 15:45:02  • 1 min
The federal student loan payment pause that began in March 2020 is ending. Loans began accruing interest on Sept. 1, and borrowers will start making payments...
Logo NasdaqNasdaq
2023-09-25 13:00:16  • 1 min
Federal Reserve Bank of Chicago's President, Austan Goolsbee, expressed optimism on Monday that the U.S. can avoid a recession despite the central bank's...
Logo Investing.comInvesting.com
2023-09-25 14:25:39  • 1 min
The National Conference of State Legislatures (NCSL)is calling onSenate Majority Leader Chuck Schumer (D-NY) and Senate Minority Leader Mitch McConnell...
Logo BenzingaBenzinga
2023-09-25 22:20:44  • 1 min
Each honoree has had a major accomplishment over the last year and is using their influence to increase health and wellness access and equity.
Logo FortuneFortune
2023-09-26 10:00:00  • 1 min
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide 2022 Best News Website or Mobile Service Digital Media Awards Worldwide 2022...
Sandra Thompson, director of the Federal Housing Finance Agency, is expected to publish a much-anticipated report on the future of the Home Loan Bank system...
Logo American BankerAmerican Banker
2023-09-25 18:22:36  • 2 mins
Citigroup CEO Jane Fraser has announced job cuts and a structure revamp at America's third-largest bank.
Logo FortuneFortune
2023-09-25 14:59:01  • 1 min
Having access to trustworthy financial institutions is a critical part of building generational wealth. Families of color, including Latino families, face...
Logo NasdaqNasdaq
2023-09-25 13:36:04  • 1 min
Is there nothing more daunting than getting a raise? However, it is worth it if you are able to secure a significant salary increase. In the end, a raise...
Logo NasdaqNasdaq
2023-09-25 16:30:05  • 1 min
Three years and nearly $1 billion later, Wells Fargo is finally playing offense in one of Wall Street's hottest battlegrounds: wealth management. The banking...
Logo American BankerAmerican Banker
2023-09-24 13:20:04  • 1 min
The latest assertion from GOP presidential candidate, former Rep. Will Hurd (R-Texas), is that ex-President Donald Trump is vying for the presidency, not for...
Logo BenzingaBenzinga
2023-09-26 00:17:59  • 1 min
Projects include track upgrades and bridge repairs, as well as improving connectivity among railways and making routes less vulnerable to extreme weather.
Logo FortuneFortune
2023-09-25 11:59:21  • 1 min
Given its better prospects, we believe Union Pacific stock (NYSE: UNP) is a better pick than McDonalds stock (NYSE: MCD). Although these companies are from...
Logo NasdaqNasdaq
2023-09-26 04:02:20  • 1 min