Cost of Funds for CUs About to Rise "Credit News 24"

Depository institutions need to plan for higher cost of funds, as higher interest rates cause depositors to shift to higher yielding deposit...

Half of CUs Report Declining Year-over-Year Membership "Credit News 24"

The National Credit Union Administration reported that 50.3 percent of federally insured credit unions had fewer members at the end of the s...

Federally-Insured CUs Post Y-o-Y Double Digit Loan Growth "Credit News 24"

The National Credit Union Administration reported an increase in asset, loans, and shares at federally-insured credit unions during the seco...

Consultant: Service Charges Are Vital for CUs "Credit News 24"

Research by Michael Moebs, Economist & CEO of Moebs $ervices, found that credit unions are more reliant on service charges than other de...

Puerto Rico Oversight Board Certifies Fiscal Plan for Island's Credit Union Regulator and Insurer "Credit News 24"

The Financial Oversight and Management Board for Puerto Rico has certified a fiscal plan for the Public Corporation for the Supervision &...

Two Conserved CUs Have Wiped Out Their Net Worth "Credit News 24"

Riverdale Credit Union (Selma, AL) and Shreveport Federal Credit Union (Shreveport, LA), which were placed into conservatorship during the s...

Study Claims that CUs Lack Incentive to Control Expenses "Credit News 24"

Credit unions are less efficient than other depository institutions, according to research from Moebs $ervices. The study notes that banks a...

Consumer Credit at Credit Unions Grew at Slower Pace in May "Credit News 24"

The Federal Reserve is reporting on July 10th that outstanding consumer credit at credit unions grew in May, but at a slower pace than in Ap...

Fifty-one Percent of CUs See Year-over-Year Decline in Membership "Credit News 24"

More than half of the nation's federally insured credit unions reported fewer members at the end of the first quarter of 2018 compared t...

Almost 1300 Federally Insured CUs Reported a Loss in Q1 2018 "Credit News 24"

According to Call Report data, 1,294 credit unions reported a loss for the first quarter of 2018. In other words, 22.6 percent of federally ...

Assets, Loans, Deposits, Membership Up in Q1 2018 "Credit News 24"

The National Credit Union Administration (NCUA) reported that assets, loans and shares (deposits) at federally insured credit unions expande...

Additional NY CUs with Problem Taxi Medallion Loans "Credit News 24"

The following credit unions either have or appear to have exposure to taxi medallion loans. These credit unions continue to report a growth...

Q1 2018 Delinquent Loans Fall at Progressive CU, as Net Charge-off Rate Surges "Credit News 24"

Taxi medallion lender Progressive Credit Union (New York, NY) reported a loss of $25.6 million for the first quarter. The loss was primaril...

Idaho Central Named the Top Performing CU in 2017 "Credit News 24"

S&P Global Market Intelligence reported that Idaho Central Credit Union (Chubbuck, ID) was the top performing credit union in 2017. This...

1,118 Credit Unions Reported A Loss for 2017 "Credit News 24"

At the end of 2017, 1,118 credit unions reported a loss. This means 19.3 percent of all credit unions were unprofitable for the full year o...

Fifty-one Percent of CUs Had Fewer Members Compared to a Year Ago "Credit News 24"

The National Credit Union Administration (NCUA) reported that over half of all federally insured credit unions reported a year-over-year dec...

Federally-Insured CUs Posted Strong Loan and Deposit Growth in 2017 "Credit News 24"

The National Credit Union Administration (NCUA) reported that federally-insured credit unions (credit unions) had strong deposit and loan gr...

How Are Other CUs with Exposure to Taxi Medallion Loans Performing? "Credit News 24"

My earlier posts have looked at the three large New York City taxi medallion lending credit unions. However, there are several other credit...

Charge-Offs Jump in Q4 at Taxi Medallion Lender Progressive CU "Credit News 24"

Taxi medallion lender Progressive Credit Union (New York, NY) posted a small profit of $265 thousand for the fourth quarter of 2017; but a l...

Taxi Medallion Lender LOMTO Reports Loss of $18.4 Million, Net Worth Plummets "Credit News 24"

LOMTO Federal Credit Union (Woodside, NY) reported a loss of almost $18.4 million for the full year of 2017 as problem taxi medallion loans ...