HUD report to Congress reflects growth in several areas

The U.S. Department of Housing and Urban Development (HUD) yesterday released its annual report to Congress on the financial condition of the Federal Housing Administration’s Mutual Mortgage Insurance (MMI) Fund. The independent actuarial analysis shows the MMI Fund’s capital ratio grew by $3.8 billion and now stands at 2.32 percent — the second consecutive year […]

Filene study points out importance of geolocating

According to findings from a new Filene Research Institute pilot program, location-based smartphone alerts and personalized messaging drive member engagement and increase brand awareness and credit/debit card penetration. The research is the result of 10 credit unions polled by Filene during a 20-month period. Participating credit unions worked with Larky, a mobile-loyalty platform, to investigate […]

League sources anticipate tax reform in 2017

In recent meetings on the Hill, League sources have learned the following on potential for tax reform in 2017: Law firms and tax analysts are bullish on international tax reform and are pointing to a surface agreement between Speaker Paul Paul Ryan and the next Democratic Senate leader Chuck Schumer to impact this issue. Both […]

New cyber attack successfully targeted internet of things

A recent significant slowdown, and in some cases failure, of prominent internet sites affected a broad spectrum of users. Now, according to cybersecurity expert Brian Krebs, U.S. Sen. Mark R. Warner (D-VA), co-founder of the Senate Cybersecurity Caucus is pushing federal agencies for possible solutions and responses to the security threat from insecure “Internet of […]

CUNA Mutual Group Chief Economist Rick predicts strong 2017

Credit unions will remain healthy during the next year, as memberships continue to grow, CUNA Mutual Group Chief Economist Steve Rick predicted Tuesday during the 2016 Virtual Discovery Conference. Based on recent trends, credit union membership is expected to increase 3.8 percent this year, slowing somewhat to 3.3 percent next year, Rick said. “Our membership […]

NCUA to repay U.S. Treasury balance due by Oct. 31

By Oct. 31, the National Credit Union Administration plans to fully repay the $1 billion outstanding balance on the agency’s borrowing line with the U.S. Treasury. When that payment is made, the Temporary Corporate Credit Union Stabilization Fund’s outstanding borrowings from the U.S. Treasury will be fully repaid. NCUA’s $6 billion borrowing line with the […]