This collection of positive news about credit unions and their activities is assembled from a variety of sources on the Internet and from credit union submissions. Note: links used here are external and the League does not control their expiration dates.
To share news from your Indiana credit union: send story links to Kay Neidlinger. You can also read more about credit union's community service efforts--and contribute information at the Commitment to Change website
Indiana Credit Unions in the Media
Source: Credit union submissions and Internet news reports. Some stories may require passwords for access.
Beacon CU is acquiring Midwest Ag Finance, in a rare credit union-bank purchase and assumption.
The announcement comes following votes by both institutions' boards to move forward with the proposal. A link to the credit union's announcement, which includes a 10-minute video featuring CEO Kevin Willour, is located here.
Slide #17: Natco CU is one of CUNA's first place national Dora Maxwell winners. CEO Cindy Gribben is pictured at the Natco Community Empowerment Center.
Credit unions sponsored two promotions at a Ball State Cardinals basketball game: The Ball State FCU Shoot for Loot and the PrimeTrust Prime Seat contest. The PrimeTrust Prime Seat Contest consists of the game's sponsor, PrimeTrust FCU, giving away four of the best seats inside Worthen Arena, food vouchers and a parking pass, all via social media.
Without the need to generate a profit, or pay taxes, credit unions have a massive advantage on the banks -- an advantage that can benefit the customer.
"The labor market was about the last thing to recover from the Great Recession, and in the last six months it has picked up steam," said Bill Hampel, chief economist at the Credit Union National Association. "The benefits for the middle class are now solidifying."
CUNA stated that the Federal Home Loan Bank proposal by the FHFA could require credit unions to alter business practices by creating major compliance responsibilities and could result in higher cost mortgages. These cited challenges that credit unions may face have already impacted the lending industry, as lenders try to comply with the new rules and regulations enforced by the CFPB. In this evolving market, there will be new regulations and requirements, no matter how inconvenient and unreasonable they may be, that industry stakeholders will have to abide by.
