June 11th, 20184137Young members deposited more than $15 million in their accounts during the Credit Union National Association's National Credit Union Youth Month savings challenge in April.
According to CUNA, results were reported by 145 credit unions that participated in the challenge, which was sponsored by both CUNA and Fiserv. Credit unions nationwide reported opening a combined 5,485 new youth accounts during the month of April. They also reported more than 65,000 young members made deposits.
This year's theme was "The Science of Saving."
"Participation in the Youth Saving Challenge remains a lasting way to introduce youth members to good...
June 8th, 20181117The United States' credit unions started 2018 on a high note, according to data from the National Credit Union Administration.
Total assets in federally insured credit unions rose by $79 billion, or 5.9 percent, over the year ending in the first quarter of 2018. That puts total assets at $1.42 trillion.
Below are other prevalent facts from NCUA's findings:
Total assets in federally insured credit unions rose by $79 billion, or 5.9 percent, over the year ending in the first quarter of 2018, to $1.42 trillion.
Total loans outstanding increased $87 billion, or 9.9 percent, over the year to $971.9 billion. The average...
June 7th, 20183547Coca-Cola Credit Union recently welcomed Vikki Sifuentes as its new executive vice president.
Sifuentes will bring more than 27 years of experience in the financial industry to her new role, in which she will be responsible for all revenue-producing departments. Sifuentes will be instrumental in the development of the credit union's long-term financial planning, programs and strategies.
Sifuentes began her 12-year credit union career as chief lending officer at Tus
caloosa Credit Union in Tuscaloosa, Ala. Most recently, she served as the executive vice president and chief experience officer at Alabama State Employees Credit...
June 7th, 20183139Peach State Federal Credit Union has committed to donate $5,000 to Trion City Schools' REACH Georgia Scholarships over the next five years.
The school system will receive $1,000 each year through 2022 from the credit union.
"Peach State was founded by educators more than 55 years ago. We honor our roots as well as our members who are educators through contributions like these," said Peach State President and CEO Marshall Boutwell. "We understand the positive impact of education on a community — that's why donations like these are so important."
REACH stands for Realizing Educational Achievement Can Happen. The program, which...
June 7th, 20181251Peach State Federal Credit Union has purchased a new branch.
The new location in LaFayette, Ga., at 710 Main Street, is in the process of being renovated and is expected to open in August. The 2,640 square-foot, full-service branch will feature an ATM and drive-thru.
"Our strategy to provide financial services to those in undeserved areas has brought us to the LaFayette area and we're eager to bring a smart place to bank to this community," said Peach State's President and CEO Marshall Boutwell.
The new branch will be open from from 9 a.m. until 5 p.m. Monday through Friday.
June 7th, 20180182The Consumer Financial Protection Bureau fired the entirety of its 25- member Consumer Advisory Board during a conference call Wednesday, according to a Credit Union Journal article.
>>Related: Here are 5 things you need to know about the CFPB<<
Anthony Welcher, a political appointee and the CFPB's policy advisory for external affairs, told consumer advisory members during the brief call that the agency would be modifying the way the board operates
"We've decided we're going to start the advisory groups with new membership to bring in these new perspectives and new dialogue," Welcher reportedly said on the...
June 1st, 201826142Gwinnett County Public Schools recently announced its winners of the Georgia United credit Union Young Leaders Scholarship.
Each of the five winners won $2,000 toward their education.
Below are the winners:
Bailey Curtis from Mill Creek high School
Shannon Davis from Peachtree Ridge High School
Reina Mitchom from Archer High School
Hannah Roebuck from Parkview High School
Maggie Grace Yan Yan Simmons from Grayson High School
May 31st, 201822166When Andy Harris became president and CEO of Coosa Valley Credit Union (CVCU) three years ago, the organization had about $160 million in assets.
Today, that number is $345 million.
"If you want to go out and start growing, it costs money," Harris said at last week's Northwest Power Connectors luncheon at the Cartersville-Bartow County Chamber of Commerce. "So if your expenses are already elevated, it's going to be hard to grow, and be able to financially sound without having those expenses under control."
The road to CVCU more than doubling its assets, Harris said, began with the organization reducing its operational...
May 31st, 20182147Delta Community Credit Union recently awarded $100 savings accounts to 13 metro Atlanta-area students who submitted winning entries in the credit union's third annual Youth Month Essay Contest.
Delta Community hosts the essay contest each April during National Credit Union Youth Month. This year's contest urged students to write about how saving can help them "reach for the stars."
Winner Aaron Adams, a third-grader from Jackson Elementary School in Clayton County, wrote about how he saves his money to buy books, according to a Clayton News Daily article.
"I read lots of books so I can go to college," Adams said. "Reading helps me...
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