Jim DuPlessis

Columbia

Communications Consultant and Web Content Producer at Freelance

Contributor at Credit Union Times

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Articles

Disposition of Credit Union Tax Exemption Draws Near

5 days ago | cutimes.com | Jim DuPlessis

Credit union trade groups continued to pressure House members Friday as a bill that might or might not propose eliminating their federal tax exemption nears the day for committee consideration.
Top 10 Credit Unions: Earnings Improve in Q1

1 week ago | cutimes.com | Jim DuPlessis

Almost all of the change can be explained by a lowering of loan loss expectations. Provisions were $1.2 billion in the first quarter, or an annualized 1.07% of average assets. First-quarter ROA was a 9 basis point improvement from a year earlier and a 40 bps improvement from the fourth quarter. Changes in other parts of the income statement largely canceled each other out.
America's Credit Unions: ‘Reassuring’ Jobs Report to Delay Fed Cuts

1 week ago | cutimes.com | Jim DuPlessis

An economist for America’s Credit Unions said Friday the Fed is likely to wait until later this year before cutting rates in the wake a report showing the job market remained healthy through mid-April. The U.S. Bureau of Labor Statistics reported Friday that unemployment remained at 4.2% and non-farm jobs rose by 177,000 from March to April, slightly lower than the 185,000 job gain in March after a downward revision, but above the 152,000 average gain over the past year.
DCUC Lobs Video in Defense of Tax Exemption

1 week ago | cutimes.com | Jim DuPlessis

The Defense Credit Union Council (DCUC) posted a video on YouTube to protect credit unions’ federal tax exemption Wednesday, while a conservative think tank posted a blog saying it was time for credit unions’ special treatment to end. And so goes the campaign to defend a credit union difference, or from the view of bankers, pick a tick that has been sucking their blood for 80 years.
Economic Dip Arrives Early, Potentially Pushing Rate Cuts Farther Down the Road

2 weeks ago | cutimes.com | Jim DuPlessis

A little more than two weeks ago, the Mortgage Bankers Association predicted the economy would contract slightly in the third quarter, but a government report Wednesday shows a slightly bigger drop happened in the first quarter. The U.S. Bureau of Economic Analysis said gross domestic product fell from fourth quarter to the first quarter at an annualized rate of 0.3%, following a fourth-quarter gain of 2.4%.
Credit Unions Lag Banks on 2024 Commercial RE Production

2 weeks ago | cutimes.com | Jim DuPlessis

Commercial lenders increased their production of commercial real estate loans at three times the rate of credit unions last year. The Mortgage Bankers Association on Friday reported that lenders originated $498 billion in commercial RE loans in 2024, up 16% from $429 billion in 2023 and down 39% from $816 billion in 2022 when the Fed began raising rates.
CU 1's Alaska Goals: Bring 'Financial Empowerment' to Rural Communities

2 weeks ago | cutimes.com | Jim DuPlessis

Newest branch opened Friday on Alaskan Peninsula. Others opened near Anchorage and above the Arctic Circle. Alaska’s Credit Union 1 opened its third new branch of 2025 Friday in Skagway, about 800 miles southeast of its Anchorage headquarters by car on the Alaskan Peninsula. Skagway follows new branch openings April 4 in Wasilla, about 40 miles north of Anchorage, and Feb. 14 in Kotzebue, about 540 miles north of Anchorage. Kotzebue is the first credit union branch inside the Arctic Circle.
America's Credit Unions: ‘Go Time’ for Saving CU Tax Exemption

2 weeks ago | cutimes.com | Jim DuPlessis

Whether a tax bill will include dropping credit unions’ long-standing exemption from federal taxes could be decided soon by 26 Republicans in the U.S. House, Jim Nussle, president/CEO of America’s Credit Unions, said Monday.
What Are Credit Unions Gaining From Bank Purchases?

2 weeks ago | cutimes.com | Jim DuPlessis

The $94.4 million spent by DFCU Financial Credit Union of Dearborn, Mich., to buy First Citrus Bank in Florida cost it about 1.5% of its average assets. Avadian Credit Union of Birmingham, Ala., spent $11.8 million to buy an Alabama bank, or about 1% of the credit union’s average assets. The trend toward commercial lending has been going on for years, but for some credit unions, buying that which they lack has been an important strategy.
Credit Unions Watch as Cars Thrive, Homes Dive

2 weeks ago | cutimes.com | Jim DuPlessis

“Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates,” NAR Chief Economist Lawrence Yun said. “Residential housing mobility, currently at historical lows, signals the troublesome possibility of less economic mobility for society.” Sales of new cars continue rose at a fast clip through mid-April, but could be slowing.