Page 12 - Cuj Content News Today

In a state where two-thirds of residents use a credit union, a growing populace translates to even more membership, employment and loan growth with those institutions, according to data from the National Credit Union Administration.

COVID-19 accelerated the adoption of more digital options for helping members. Now more credit unions are hoping that artificial intelligence can help reduce stress on frontline staff.

Alaska USA Federal Credit Union, the 18th-largest credit union in the country by assets, said the new name better reflects its worldwide member base.

The state of Colorado has reached a $4 million settlement with Canvas Credit Union and Bellco Credit Union after the companies were accused of failing to pay refunds of guaranteed automobile protection fees due to borrowers.

The $104 million-asset Finex Credit Union in East Hartford plans to partner with the $52 million-asset First Connecticut Credit Union in Wallingford.

Rising deposit costs and the likelihood of a slowdown in loan growth could stifle earnings, credit union executives say.

The Inclusiv Network and the National Association of Latino Credit Unions and Professionals opened the Juntos Avanzamos-NLCUP regional chapter in California last month. It's the first part of a campaign to address financial inclusion on a local level.

Steve Kenny, who has been with the institution for more than 35 years and at the helm for roughly 13 years, stepped down from his leadership roles on Jan. 9.

The San Antonio-based organization said Don Ford is now president and will become after Lynn Kincaid retires in May.

Margie Salazar, who has been with the El Paso institution for more than 25 years and is currently its chief financial officer, will succeed longtime chief executive Karl Murphy on Feb. 1.