Generations United Federal Credit Union's first president and CEO, John Linzey, expects to attract the very customers that banks might turn away if the economy sours.
Some lawmakers say Congress should raise the FDIC's $250,000 per depositor cap on insured bank deposits following Silicon Valley Bank's (SVB) collapse. Experts are torn.
A series of bank collapses in recent weeks has given some depositors the jitters, with many moving their funds to larger institutions for safety. So how are credit unions faring?
Credit unions' provision for loan and lease losses rose by 337% in 2022. Industry observers cite forecasted economic weakness and current expected credit loss implementation as the primary reasons.
The National Credit Union Administration proposed a rule that would, among other changes, allow remote workers to join credit unions in their employer's market.