Two years since the coronavirus began its spread, members are still hoarding savings and are hesitant to borrow due to the economic uncertainty. This has led to the industry's lowest-ever yield-on-assets ratio a key metric for measuring financial health.
There's a lot of pent-up consumer demand for new cars, but credit unions face stiff competition from large banks and online dealerships. Some are stepping up marketing while others are eyeing new loan categories.
The National Association of Federally-Insured Credit Unions' new campaign highlights $243 billion in fines slapped on Wall Street banks. The group says it's responding to political attacks, but the banking industry says NAFCU is trying to distract from criticism of its tax exemption.
Lenders hunker down in response to spread of delta variant americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
Navy Federal keeps adding members, and rivals struggle to keep up americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.