Page 14 - Cuj Feature News Today

Through unconscious bias assessments, analysis and industry partnerships, financial institutions are working to meet the diverse needs of current and future talent.

Despite an initial green light in 2019, regulators with the Virginia State Corporation Commission ultimately decided the credit union's plan to add members lacked merit.

The Consumer Financial Protection Bureau's review of credit card late fees has ignited pushback from industry that supports an expected 9% jump in fees next year pegged to inflation. 

The Credit Card Competition Act of 2022 could threaten revenue credit unions need to manage card payments and provide security, according to trade groups.

Membership at the Virginia credit union has grown rapidly in recent years, including an 11% spurt in the first half of this year, thanks to a charter switch, heavy marketing spending and generous deposit rates.

Some scrutinize quarterly reports for details that can help better compete against banks. Others are motivated by schadenfreude.

The Polish American Credit Union Support Fund is gathering donations from members to help purchase ambulances and medical supplies, while also securing more stable housing for those fleeing the conflict.

Citadel Credit Union, armed with a team of professionals who previously worked at Santander Bank, plans to hold its own in a commercial lending market dominated by PNC Financial Services Group, Bank of America and Wells Fargo.

The combined Mountain West Credit Union Association and the Northwest Credit Union Association are taking a new name to reflect a wider area of membership.

The combination of the Cornerstone League and the Heartland Credit Union Association is the latest in a series of mergers changing the national makeup of the credit union industry.