America’s Credit Unions Letter to Rep. Emanuel Cleaver on Credit Unions and the Community Reinvestment Act
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Latest estimates show credit union loans increased 0.4%
Credit union loans outstanding increased 0.4% in April, compared to a -0.03% decline in March of 2024 and a 0.6% increase in April of 2023, according to America’s Credit Unions’ latest Monthly Credit Union Estimates (MCUEs). The estimates are based on information from a monthly sample of credit unions and are revised whenever more complete …
Latest estimates show credit union loans increased 0.4% Read More »
Credit union-backed candidates continue to secure primary wins
Seven of eight credit union-backed candidates won their primaries in Virginia, Oklahoma, and Georgia on Tuesday. Up next, America’s Credit Unions PAC is supporting five candidates in Colorado and 22 candidates in New York in primaries happening Tuesday, June 25. Credit union-backed candidates have a success rate over 98% in the 2024 cycle. America’s Credit …
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Senate bill introduced to stop, study Fed debit interchange proposal
Sen. Ted Budd, R-N.C., introduced the credit union-supported Secure Payments Act Tuesday, which would halt implementation of the Federal Reserve’s debit interchange proposal until its impact can be studied. America’s Credit Unions strongly opposes the Fed’s proposal and has called for it to be withdrawn. “Credit unions need access to as many resources as possible …
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FinCEN reminds FIs to remain alert on elder financial exploitation
The Financial Crimes Enforcement Network (FinCEN) reminds financial institutions (FIs) to remain vigilant in identifying and reporting suspicious activity related to elder financial exploitation (EFE). EFE-related losses affect personal savings, checking accounts, retirement savings, and investments, and can severely impact the well-being and financial security of victims. In addition to filing a Suspicious Activity Report, …
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Credit unions meet with NCUA vice chair on FOM opportunities
Field of membership (FOM) was the focus of a credit union meeting with NCUA Vice Chairman Kyle Hauptman on Monday. America’s Credit Unions’ Andrew Morris and a group of credit unions met with the vice chair, sharing stories of their efforts to add underserved areas to their FOM, current challenges at hand, and potential ways …
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Hunt: Credit unions contending with regulatory onslaught
Credit unions are contending with an onslaught of regulatory changes, America’s Credit Unions Chief Advocacy Officer Carrie Hunt told Punchbowl in an interview over the weekend. Hunt noted that—while banks are subject to the same regulations—credit unions face key limitations on how they can respond. “Since we are not-for-profit member cooperatives, we have different investment …
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NCUA releases Q1 2024 state-level credit union data report
Median assets, shares, and deposits in federally insured credit unions declined during the year ending in the first quarter of 2024. At the same time, both median loans outstanding and delinquencies increased. This is according to the latest Quarterly U.S. Map Review released by the NCUA. While median aggregate assets and shares and deposits in …
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