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Dec 5, 2023 | 
cuinsight.com | Matt Carpenter |Jeff Mortenson |Rob Craig |Nanci Wilson
Rep. Patrick McHenry, R-N.C., announced Tuesday he will not seek re-election in 2024. McHenry has served in Congress since 2005 and has chaired the House Financial Services Committee since January 2023. “Rep. McHenry has been a strong supporter of credit unions throughout his time in Congress and has helped us advance several important pieces of legislation while leading the House Financial Services Committee,” said CUNA President/CEO Jim Nussle.
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Dec 5, 2023 | 
cuinsight.com | Matt Carpenter |Jeff Mortenson |Rob Craig |Nanci Wilson
NAFCU and CUNA joined with several financial trade associations to call on President Joe Biden to hold the CFPB accountable to the rulemaking process and offer support for “clear rules of the road” in the financial services industry. “Markets work best when the rules are clear, so it is possible to comply with them,” wrote the groups.
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Dec 5, 2023 | 
cuinsight.com | Bo McDonald |Matt Carpenter |Jeff Mortenson |Rob Craig
When credit union leaders and board members resist change in favor of the comfort of the familiar past, all in the name of love of the credit union, I ask one question:“What is your credit union story from when you first joined?”I tend to hear emotional and moving stories about the many firsts that the credit union helped with, and the tough times that the credit union helped them navigate through the years.
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Dec 5, 2023 | 
cuinsight.com | Matt Carpenter |Jeff Mortenson |Rob Craig |Nanci Wilson
I’ve received dozens of 2024 fintech trends prediction pitches in my email inbox over the past month. And while many of them are insightful, I wanted to see what our AI overlord ChatGPT had to say about the matter.
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Dec 5, 2023 | 
cuinsight.com | Mary Ellen Cagnassola |Matt Carpenter |Jeff Mortenson |Rob Craig
Home sales plummeted this year as housing prices and mortgage rates climbed to historic levels — but a new report suggests certain real estate markets could rebound in 2024. Select markets in the Northeast, Midwest and Southern California are primed for sales and price growth next year, according to real estate broker Realtor.com’s new forecast. Among the cities where residential real estate is likely to be hot in 2024 are smaller, more affordable alternatives to big urban centers.
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Dec 5, 2023 | 
cuinsight.com | Adam S. Minsky |Matt Carpenter |Jeff Mortenson |Rob Craig
The Biden administration released major new details this week on a new student loan forgiveness plan. The program is designed to provide student debt relief to borrowers in the wake of last summer’s Supreme Court ruling that struck down Biden’s first student loan forgiveness initiative. The new plan is being developed under a different legal authority, and will be targeted to borrowers based on specific circumstances.
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Dec 5, 2023 | 
cuinsight.com | Sean Galli |Matt Carpenter |Jeff Mortenson |Rob Craig
It’s officially the most wonderful time of the year!And hearing “the most wonderful time of the year” probably brought the Andy Williams carol to mind. It’s so iconic you can’t disassociate the phrase from the song. There are a lot of carols like that – “Let it Snow,” “White Christmas” and “Deck the Halls” to name a few. These tunes mark permanent territory in your head. Wouldn’t it be nice if your bank or credit union brand did the same thing for consumers?
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Dec 5, 2023 | 
cuinsight.com | Nanci Wilson |Matt Carpenter |Jeff Mortenson |Rob Craig
I did what any crazy person does and attended some of the ‘Black Friday’ shopping after Thanksgiving. Much to the dismay of my husband, I asked to stop at the “bucks” of “star” for an overpriced mocha frappe latte triple sweet cold foam second Cousin Eddie’s twice removed espresso. Okay, it was a vanilla latte. ANYWAY, back to my point. I do have one. As we enter the holidays, you tend to have a few sets of attitudes that come with the territory.
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Dec 5, 2023 | 
cuinsight.com | Matt Carpenter |Lauren Culp |Jeff Mortenson |Rob Craig
Despite the dominance of national banks, credit unions and community banks have quietly strengthened their positions in the consumer credit card market in recent years. The latest report by Elan Credit Card and PYMNTS Intelligence examines where consumers are applying for credit cards, what type of spenders they are, and what features are most persuasive. Credit unions increased their share of primary credit cards from 6% in 2020 to 8.3% in 2023.
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Dec 5, 2023 | 
cuinsight.com | Jeff Mortenson |Rob Craig |Lauren Culp |Lena Giakoumopoulos
Two years ago, delinquency rates on loans in the U.S. were the lowest they’d ever been. Financial stimulus packages, student loan deferments, and suppressed spending provided plenty of budgetary breathing room for households nationwide. It seemed easier for your members to prioritize their financial obligations. They were holding onto money like never before and their financial cushions were lined with savings.
