credit unions small dollar lending

Study finds fintech offers lending promise rather than missed opportunities for credit unions

Sometimes the effort credit unions take to protect themselves creates the opposite effect. The effort itself harms the organization’s best interests and the interests of those you dedicate yourselves to helping.  A recent study by Filene Research and credit reporting agency TransUnion found that as credit unions have tightened lending standards during this uncertain era […]
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credit unions hurricanes wildfires

Regulatory agencies encourage CUs to meet communities’ needs in response to CA wildfires and Hurricane Ida

All four federal regulatory agencies – the National Credit Union Administration, the Office of the Comptroller of the Currency, the Federal Reserve, and the Federal Deposit Insurance Corporation – have once again released separate joint statements encouraging financial institutions to “meet the financial services needs of their communities” in or near the two major disasters […]
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credit unions financial inclusion

How credit unions can level up on financial inclusion

The last year and a half has proven both the inevitability and acceptance that has come with the digitization of the economy in the United States during and after COVID.  Since March of 2020 the tide of consumer online purchasing has come in, and we have shown no sign of returning to the pre-pandemic, brick-and-mortar […]
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CUNA credit union small dollar loans

Mr. Nussle goes to Washington

There has been a great fallacy permeating popular media over the last few years about the credit union movement and its growth through the acquisition of banks. Bank associations have pushed heavily on an inaccuracy (falsehood?) that their own institutional members are being “bought up by” <insert GASP! here> member-owned credit unions. Following a moment […]
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credit unions financial inclusion

How credit unions can maximize financial inclusion for members

Here is a statistic to grab your attention: According to a Financial Health Network study, underserved consumers spent $189 billion on fees and interest across five financial product categories in 2018 that included short-term credit. It shouldn’t come as a surprise when the Center for Financial Services Innovation (CFSI) estimates that 57 percent of consumers […]
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credit unions

How CDFIs represent what is possible for underserved communities

“CDFIs, at the heart of it, are community lenders. If you think about where banks step out, CDFIs step in. They deliver responsible capital where it is needed in a very place-based, community-first approach. Most CDFIs are nonprofits and there is tremendous alignment around ensuring their borrowers are successful. They win when community wins.”  Catherine Berman, […]
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