Beacon Hill Could Allow Credit Unions to Absorb Mutual Banks
A bill that would allow for Massachusetts credit unions to take over mutual banks passed its first hurdle yesterday: Getting a committee hearing.
HUECU to Rebrand as ‘Harvard FCU’
Harvard University Employees Credit Union will be changing its name to “Harvard Federal Credit Union.”
Harvard Credit Union Adds Wealth Management Services
Harvard University Employees Credit Union members now have access to wealth management services after the institution inked a deal with CUSO Financial Services.
Kasasa Launches Balance Sheet Management Tool
Kasasa, a financial technology company that designs and markets checking and savings accounts for community banks and credit unions, has partnered with financial engineering firm Thomas Ho Co. Ltd to provide banks and credit unions with a balance sheet management tool.
Rockland Federal Credit Union Names New CEO
Rockland Federal Credit Union has named Kristin P. VanBeek as its next president and CEO.
Mass. Credit Unions Saw Double-Digit Loan Growth Last Year
A majority of Massachusetts credit unions had double-digit loan growth last year, but the state’s credit unions continued to see one of the lowest returns on average assets in the U.S., according to data released this month by the National Credit Union Administration.
Returns at Massachusetts Credit Unions Remain Low
While nearly three-quarters of Massachusetts credit unions have positive net income, they continue to see one of the lowest returns on average assets in the U.S., new data shows.
Massachusetts Credit Unions’ Returns Among Lowest in U.S.
While a majority of Massachusetts credit unions had positive net income in the first half of 2022, the state’s credit unions had one of the lowest returns on average assets in the U.S., according to data released last week by the National Credit Union Administration.
Central One FCU Names New CEO
Shrewsbury-based Central One Federal Credit Union has named Devon Lyon as its next president and CEO.
Springfield’s Arrha Credit Union Expands to New State
Springfield-based Arrha Credit Union has opened its first Connecticut branch just over the border in Enfield.
CFPB Initiative Looks at Bank, Credit Union Customer Service
The Consumer Financial Protection Bureau said it wants to improve customer service at big banks and credit unions by launching an initiative that it said would help customers “assert their rights to better customer service.”
Report: 60 Percent of U.S. Credit Unions Face Climate Risks
More than 60 percent of U.S. credit unions could face physical risks from the effects of climate change, according to a new report from Ceres and the Filene Research Institute.
This Month in History: Credit Unions Come to Mass.
April is a historic month for Massachusetts credit unions. Not only were they legalized April 15, 1909, the first such institution in the U.S. was established just days before in New Hampshire.
Net Income Down at Some Massachusetts Credit Unions
Massachusetts had fewer credit unions with positive net income in 2021 compared to the previous year, according to data released last week by the National Credit Union Administration.
An Employee Benefit to Promote Financial Wellness
Littleton-based Workers Credit Union launched a new employee benefit for area businesses: financial wellness coaching. Johan Romero Luna heads up the program, Workers Way at Work, and said his own background helped drive his interest in financial wellness.
Credit Union Membership Continued to Decline in First Quarter
While most Massachusetts credit unions had positive net income in the first quarter, they continued to lose members at a higher rate than credit unions in most other states, according to data released Friday by the National Credit Union Administration.
Membership Declined at Most Mass. Credit Unions Last Year
While most Massachusetts credit unions had positive net income in 2020, the state’s credit union membership declined at one of the highest rates in the U.S., according to data released last week by the National Credit Union Administration.
Lawrence Man Pleads Guilty to Defrauding Mass. Credit Unions
A Lawrence man has pleaded guilty to participating in a wide-ranging conspiracy to defraud financial institutions in several states, including Massachusetts credit unions.
Community Banker Now Leads Credit Union
Andrea White had never worked at a credit union before October, when she became president and CEO of Somerville-based Naveo Credit Union. But for White, her career in community banking – which started when she had a summer job as a teller during college – has prepared her to lead
ACSI Finds Drop in Bank, Credit Union Customer Satisfaction
While Customer satisfaction with community banks and credit unions has fallen, it remains higher than satisfaction with national and super regional banks, according to a recent report from the American Customer Satisfaction Index.
