Credit Union : What's new ?
Anurag Mukherjee
Helping Credit Unions & Community Banks win with Data | World #1 Podcast for Women of Community Banking
Taking a look at this Week's latest Credit Union news.
New home sales increased 4.1 percent in April to 683,000 annualized units, while sales in March were revised down 27,000 units. Compared to last year, April’s sales were 11.8 percent higher. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the data.
Suggesting tougher financial times may be ahead, a new analysis by the New York Fed is pointing out consumers failed to pay down their debt in the first quarter of 2023.Credit-card balances hit $986 billion in the fourth quarter last year and remained largely unchanged in the first quarter of this year, the Federal Reserve Bank of New York said in its most recent quarterly report on household debt.“It looks increasingly likely that credit-card debt is on track to hit the $1 trillion mark this year, and experts say that this number could be an indicator of a looming economic downturn,”
Two large Pacific Northwest credit unions are reporting they have received final approval for a planned merger. The $2.3-billion TwinStar Credit Union in Lacey, Wash., now plans to merge in the $1.8-billion Northwest Community Credit Union. effective June 12. Plans call for the two credit unions to fully integrate their banking systems and to select a new shared name and branding by 2024.
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First Commonwealth Credit Union, based in Allentown, Pennsylvania, plans to merge with the Bellco Federal Credit Union, based in Wyomissing, Pennsylvania, pending approval from the National Credit Union Administration. The two credit unions will operate under the name First Commonwealth Federal Credit Union, and have combined assets of more than $1.3 billion and more than 92,000 members, according to a press release.
20 Professionals Begin New Credit Union Industry Roles
Sources : Credit Union Times , CUInsight.com , ATMmarketplace.com , CUtoday