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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.
January 23 -
Regulators are calling for creative alternatives to the arduous de novo process. Pairing groups that want to open credit unions with lagging institutions would be quicker and could help preserve the sector, one credit union service organization says.
August 27 -
Regulators recently eased field-of-membership rules to promote growth of federal credit unions. A handful of institutions are taking advantage of the changes to recruit more members, but some may find the process too cumbersome.
April 22 -
Cal Poly Federal Credit Union's recent merger into SchoolsFirst highlights the difficult choice many small institutions face: diversify your field of membership or risk going out of business.
April 21 -
The Michigan-based institution has positioned itself for additional growth by making it easier to qualify for membership.
April 13 -
Regulators have approved the credit union's request to add 477 underserved census tracts to its field of membership, allowing it to reach roughly 2.5 million consumers.
April 8 -
A plan to make expansion easier for credit unions is getting pushback not just from bankers, but also from the regulator's current chairman and a former board member.
February 12 -
The Flint-based credit union is the state's third in just over one year to get the OK for an expansion allowing anyone who lives or works in the state to join.
February 3 -
Industry groups say the coronavirus has highlighted additional risks faced by institutions without a diverse member base.
January 12 -
In a letter to credit unions, NCUA urged federally chartered shops to expand their fields of membership to underserved areas, regardless of geography, in order to boost financial inclusion in the wake of the pandemic.
January 8