Bad actors have reportedly sent phishing emails to some credit unions spoofing Zix secure emails supposedly from CUNA Mutual Group or FIS. Although CUNA Mutual Group uses Zix to encrypt select credit union emails that contain sensitive information, these emails were not sent from CUNA Mutual Group or from our Zix account. Credit unions should remain on the lookout for suspicious emails that claim to be from our organization or other trusted entities.

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Credit unions: Here’s a golden opportunity to honor individuals who have made a difference at your credit union or to the industry! On Nov. 9, your League will host its Annual Awards Event, at which we’ll honor our latest Wall of Fame inductees and Credit Union House Brick sponsors.

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Democrats are calling for federal banking regulators to stiffen rules governing the Community Reinvestment Act (CRA), but they are not pushing for the legislative changes that would make credit unions subject to the law. Nineteen Democratic senators and more than 75 House Democrats signed letters saying that the OCC, the FDIC and the Federal Reserve should do more to push banks to invest in their communities.

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In a typical year, average credit union loan growth is 8%. If 2022 continues as it did over the first six months, CUNA Chief Economist Mike Schenk says credit unions would see loan growth of 20%--the fastest pace since loans grew 25% in 1984. But Schenk doesn’t think credit unions will reach that level this year.

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The competition for providing buy now, pay later (BNPL) services is growing. From fintech to retailers to large tech companies, every player along the purchase-to-payment shopping journey is looking to become the go-to payment option by providing the most preferred payment solutions. So as a credit union, what can you do about it? Related article: Surge in Number of BNPL Users is Forecast

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Arizent's second annual survey on Humanizing the Bank Customer Experience in Banking reveals that credit unions may be doing a better job of creating a positive connection to "customers" than some banks, especially larger institutions. Six of the top 10 institutions recognized in the survey were credit unions, and another, Chime, was a fintech.

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Consumers and investors alike are asking: Is inflation peaking or not? The answer, according to the market analysts, is probably. But there's still a long way to go before we are where we want to be.

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Tighter monetary policy from the Federal Reserve and persistently elevated construction costs have brought on a housing recession.

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Consumer reliance on credit cards as a source of borrowing justifies a closer look at what’s driving interest rates, as credit card market profitability increases, says the Consumer Financial Protection Bureau.

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The Consumer Financial Protection Bureau (CFPB) recently issued an interpretive rule (rule) to address digital marketing providers. Financial institutions such as credit unions may use these providers for advertising, which may also help with other activities such as member acquisition and marketing analysis. These providers “aggregate and analyze immense amounts of granular consumer data, and then use that data to determine what advertisements to provide to specific consumers at what times.” Some types of data points these providers may aggregate are account openings and a member’s search history. These providers may allow credit unions to target certain types of members with specific advertising services.

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