Latest News & VACUL Headlines
- Crypto: A New Way To Drive Lending?
August 19, 2022A handful of credit unions offering cryptocurrency services have said their next step will likely be finding ways to leverage members’ digital assets to drive lending. However, some recent developments among fintechs already operating in the crypto lending space suggest CUs should proceed with caution...
- Three Impacts of a Cooling Housing Market
August 19, 2022Today, home values remain strong on paper, but they are being scooped up more slowly, indicative of a disconnect between what sellers want to sell their homes for and what buyers are willing and able to pay. In fact, Redfin is reporting widespread reductions in sales price for many metropolitan areas as sellers struggle to find buyers. There is seemingly a shift coming from a seller’s market to a buyer’s market.
- Credit Unions: NCUA to Streamline Merger Process, Defer to States
August 19, 2022The NCUA should streamline its merger process and defer to state officials, when appropriate, credit union groups told the agency this week.
- CFPB Turns Its Attention to Data Security – Seven Industry Practices You Need to Know Now
August 19, 2022Recently, the CFPB pointed to three practices — inadequate authorization, poor password management, and lax software update policies — as examples of data security practices that would likely cause substantial unavoidable injury to consumers without a countervailing benefit and that could trigger liability for financial institutions and/or their service providers.
- Merchants Are Now Consumers? FTC Settles Action Against Payment Processor After Alleging Its Merchants Are 'Consumers'
August 19, 2022In an unprecedented case, the FTC is using consumer protection statutes to sue a payment processor for alleged acts against the merchants with whom the processors do business.
- Credit Card Charge-Off, Delinquency Rates Muted Amid Slow Normalization
August 19, 2022Net charge-off and delinquency rates at major credit card issuers were muted in July as industry experts suggested that credit metrics will continue to normalize slowly through the end of the year.
- Demand for Personal Loans Pressures CUs, Banks, Fintechs
August 19, 2022Banks were already under interest rate pressure on personal loans from firms including SoFi and Marcus, and new data reveals that credit unions are also taking a larger chunk of that lending pie.
- International Credit Union Day Set for Oct. 20; Resources Available
August 19, 2022International Credit Union (ICU) Day® celebrates the spirit of the global credit union movement. The day is recognized to reflect upon the credit union movement's history, promote its achievements, recognize hard work and share member experiences. International Credit Union (ICU) Day® has been celebrated on the third Thursday of October since 1948.
- ACUM Announces 2022 'Herstory' Hall of Fame Honorees
August 18, 2022America’s Credit Union Museum (ACUM) announced the inductees of its newest exhibit, “Credit Union Women Making History: Herstory”, which highlights a range of credit union women and their achievements in the credit union industry. Set on honoring the past, present and future of incredible women making history, “Herstory” will be an interactive exhibit showcasing women’s stories never heard before.
- BayPort CU Joins With Local Corporations to Launch $500,000 Accelerating Change Together Grant
August 18, 2022To address gaps in services for Hampton Roads communities, three leading corporations headquartered in Newport News, Virginia – HII, Ferguson, and BayPort Credit Union – have partnered to fund a $500,000, three-year transformation grant, called Accelerating Change Together (ACT). The inaugural year's focus will be on Education and Workforce Development.