Credit Unions in the News

Most Recent

Small-Business Job Engine Sputters05/15/2014So have more traditional lenders that once provided the capital to get a new company off the ground. That is why alternative lenders have been rushing in to fill a void in the market over the last five years. Crowdfunding sites like Kickstarter and Indiegogo have been doling out money for start-ups and expansion capital for entrepreneurs. So have credit unions across the country. Increasingly they are getting in the business of offering small business loans to local businesses in their communities to help support Main Street.

Wichita Credit Unions Plan to Pick Up Some Lunch Tabs05/15/2014The Kansas Credit Union Association said Thursday representatives from six Wichita credit unions will be picking up the lunch tabs for customers of two restaurants. KCUA said in a news release that the representatives would be at Wasabi, 2404 N. Maize in northwest Wichita, and Tanya's Soup Kitchen, 1725 E. Douglas, downtown today.

Personal Finance Worries Continue to Plague U.S. Workers, Creating Concerns for Employers05/14/2014Concerns and stress about personal finances are distracting U.S. employees during working hours, impacting their job performance and potentially sapping company productivity, according to a new survey from the Society for Human Resource Management (SHRM).

Bill Giving Credit Unions Federal Home Loan Bank Access Passes House05/07/2014A bill introduced by Rep. Steve Stivers, R-Ohio, that would allow privately insured credit unions to become members of theFederal Home Loan Bank has passed in the House.

Money Matters: How Financially Prepared is Your College Student05/07/2014Andy Mattingly from FORUM Credit Union discusses how to prepare college students for life after graduation. 

Credit Unions in New York's Capital Region See Boost in Car Loans05/07/2014Credit unions in the Albany, New York area have found a new area of growth: auto loans. Credit unions in New York's Capital Region are mirroring a national trend as their auto loan portfolios grow.

Credit Unions Growing at Banks' Expense05/05/2014Since 2007, on the eve of the banking crisis, through 2013, the last year we have data for, the largest credit unions in Philadelphia and its Pennsylvania suburbs -- 11 institutions with at least $400 million each in deposits and share accounts -- have boosted those deposits by a collective two-thirds, bringing their total to $11 billion, according to National Credit Union Administration data collected by SNL Securities LLC.

Credit Unions Cash In On 2013 Refi Boom05/02/2014Credit unions operating in Northern Colorado and the Boulder Valley rode the refinancing boom to improved asset numbers, with nine showing improvement in 2013. A new report from the Mountain West Credit Union Association shows that among its member credit unions, total assets increased from $9.4 billion to $9.8 billion year-over-year, an increase of 4.4 percent.

6 Credit Unions That Make Blockbusters Like Spider-Man 2 Possible05/01/2014One of the perks of joining a local bank or credit union is that these types of institutions focus on the residents of a particular community and the specific financial issues they face. Most credit unions and local banks are committed to serving a local employer group or county - meaning the service will be most beneficial to those who qualify for membership. Those who work in the entertainment industry, whether as an actor, director, editor, sound mixer, writer, producer or crew member, have access to a wide range of credit unions that will cater to their banking needs. Many industry employees lack consistent income, requiring them to seek unique services and assistance planning their budgets.

The Smart Way to Buy a Used Car05/01/2014Mark Littleton with Kinetic Credit Union said think before you spend. The first thing you need to do when buying a car is know your budget. Littleton said the second thing is "get pre-approved so when you go to a dealership, you know how much car you can afford." Then he said make sure you do your homework on the car because what looks good now could be trouble later. 

People Staying Unbanked Because of Fees05/01/2014

Credit Union Roundtable: Executives Continue Battle Over Regulations04/25/2014St. Louis-area credit union CEOs recently shared their concerns and thoughts about industry trends including consolidation, which continued recently with the announcement that Laclede Community Credit Union, with assets of $67 million, agreed to merge into the larger 1st MidAmerica Credit Union, with assets of $509 million. That deal was approved April 8.

List Package: Credit Unions Lobby to Save Tax Exemption04/25/2014Dennis Pierce is CEO ofCommunityAmerica Credit Union and chairman of the board for the Credit Union National Association, which represents 6,000 credit unions nationwide. He talked with the Kansas City Business Journal about legislation being discussed that potentially could change the tax status of credit unions.Tell me the difference between a credit union and a traditional bank.

Money Matters: Explaining Frequently Heard Financial Tips04/24/2014Andy Mattingly from FORUM Credit Union explains some financial tips you hear frequently. 

Mad City Money: Credit Union Brings Financial Simulation to L'Anse Creuse Students04/23/2014Playing the part of a married stockbroker who recently landed a job, L'Anse Creuse senior Chris Platte discovered he had $4,280 in combined daily expenses and monthly bills to pay. "I'm learning it's so much more money than you think," Platte said Monday during a real-world simulation on budgeting held in the L'Anse Creuse High School cafeteria in Harrison Township.

Credit Unions Get Unrelated Business Income Tax (UBIT) Relief from the IRS (Internal Revenue Service)04/22/2014On March 24, 2014, the Internal Revenue Service (IRS) has finally changed course and instructed its examiners that the unrelated business income tax (UBIT) will not be applied to key, revenue generating products sold by credit unions to their members. IRS examiners have now been instructed that when examining original or amended Forms 990-T or claims for refunds by state-chartered credit unions, income from credit life and disability insurance, as well as guaranteed auto protection (GAP) insurance that is sold to members should not be treated subject to UBIT. The IRS also clarified that if the credit union has a royalty arrangement, the examiners should not treat other insurance products sold to members, such as accidental death and dismemberment insurance, subject to UBIT.

Syracuse Credit Union Members Benefit from Financial Literacy Programs04/22/2014While you might be interested in learning more about financial literacy programs for your child, it's possible you don't know exactly where to look. Through our survey of local programs, we've found the best financial literacy initiatives offered by credit unions in Syracuse. The following financial literacy programs will help you and your family take the next steps in your personal financial education.

Why Should Most People Have a Budget04/17/2014A recent study by the Federal Reserve shows that non-housing household's debt has risen 3.3 percent in the last quarter of 2013. Much of it can be attributed to the fact that two-thirds of US households don't have a spending plan. Andy Mattingly with FORUM Credit Union joins FOX59 to talk about why we need a budget. 

Linda McFadden Talks Student Loans04/16/2014

Georgia Credit Unions Saved Members $124 Million in 201304/15/2014"Credit unions are literally structured to serve members…there are no stockholders," said Mike Mercer, president and CEO of GCUA. "Buying a car to get back and forth to work, taking the kids on vacation once in awhile, putting a down payment on a house, saving for retirement - these are the things people look to their credit unions to help them with. Credit unions' only purpose is to deliver value to their members, and they do it in all kinds of ways."