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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.