Effective January, the guidance was sought by the CUNA-League system. The significant news for credit unions represents the latest component of the agency’s online Examiner Guide.
Focusing on helping credit unions collaborate and utilize best practices in providing commercial services to members, the first meeting is August 10.
Seattle Metropolitan Credit Union was named a finalist for FinXTech “Best of FinXTech” awards in March. Erica Erdozain, Vice President of Commercial Lending, represented SMCU in New York City at the event, which recognized the credit union’s work in streamlining its commercial lending processes.
The proposal would remove or modify a number of prescriptive limitations to member business lending, opting for a principle-based approach. It would also do away with the 12.25 percent of assets limit, in favor of a net worth ratio.
An economic study of national and northwest data discredits the bank lobby’s claims that credit unions should lose their corporate tax exemption. The ECONorthwest report finds that credit unions’ tax status does not give them an unfair competitive advantage over banks.
Spokane Teachers Credit Union announced plans last week to open a new branch and house its commercial lending program in downtown Spokane’s historic Hutton Building, a move CEO Tom Johnson said “gives STCU an opportunity to reclaim an architectural treasure.”
Allowing credit unions to expand their commercial loan growth not only could help the economy, but also would improve the resiliency of their loan portfolios in times of economic stress, according to a recent Filene Research Institute study.
Is the monthly email we send to members telling them their statement is available online covered by the FTC’s CAN-SPAM rules?
Oregon and Washington credit unions have seen steady improvements across the board through the first half of the year, far exceeding regional commercial and savings banks. Here is a statistical breakdown of the financial data for that past two quarters.
Recent news of your colleagues and the credit union movement.