Though Catholic credit unions face many of the same challenges others do, they also must contend with some concerns that are specific to serving a religious organization, which is what pushed 11 credit unions that all serve Catholic churches to band together.
The Department of Housing and Urban Development is telling lenders that down payment assistance programs still qualify for FHA backing despite concerns raised last year by HUD's inspector general. more »
CO-OP Financial Services announced that Todd Clark will become its new president and CEO, effective June 27, succeeding Stan Hollen, who is retiring. more »
The number of credit union charters is decreasing at a rate of about one every business day mostly small CUs that are being merged out of existence. But some experts suggest there a number of tools these institutions should be using to not only survive, but thrive.
Despite recent major gains in loans and membership, CUs have seen costs rise while other key ratios such as ROAA and net interest margin have slipped, calling for a focus on cutting costs.
As credit unions continue to experience robust growth in auto lending, the need to polish up their underwriting and decision processes also grows as well as managing all the data that comes with it.
Philosophically speaking, credit unions are member-centric, but in order to stay in business so they can keep helping those members, here are some expert strategies for boosting profitability.
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Pentagon FCU has launched the first ad in a series of ads that will be released over the next two weeks and broadcast in several key markets across the country.