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Mass. credit union will serve recreational marijuana companies

September 17 2018

• in
• Credit unions

“GFA Federal Credit Union, founded in 1938 to serve French-Canadian immigrants and headquartered in Gardner, told the Globe Thursday that it’s ready to wade into the recreational marijuana sector, following a year of research and preparations.  Other banks and credit unions have so far stayed on the sidelines, calculating that it’s legally and financially risky […]

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Smaller FIs Weigh In on Mobile Financial Services

November 20 2018

• in
• Banks
• Credit unions

“Fifty-five percent of the respondents reported that more than 20 percent of their customers were active mobile banking users. Surprisingly, 14 percent of the respondents indicated they have no plans to offer mobile banking services. All but one of the FIs that have no plans to offer mobile banking had assets under $500 million. These […]

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10 Charts On Credit Union Lending

April 5 2019

• in
• Credit unions

“The shifting economic landscape over the past 10 years has changed the way financial institutions operate and interact with consumers. As banks and mortgage lenders pulled back following the crash, credit unions stepped in and increased lending when members needed it most. In the 10 years following the recession, the credit union industry has grown […]

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Small Banks Rebel Against the Most Important Tech Firms You Have Never Heard Of

April 11 2019

• in
• Banks
• Credit unions
• Processors

“Lead Bank, a community lender in Kansas City, Mo., wanted to offer the payments app Zelle to its customers. But it had a problem. A company called Fiserv Inc. which provides much of the bank’s underlying technology, said Lead wouldn’t be able to launch Zelle until June at the earliest. Big U.S. banks rolled out […]

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How Credit Unions Outgrew Their Down-Home Reputation

December 2 2019

• in
• Credit unions
• Financial institutions

“Credit unions, long seen as a humdrum corner of consumer finance, are going toe-to-toe with the biggest financial institutions. Credit unions’ assets have grown at nearly twice the pace of banks’ over the past decade, and the cooperatives are buying small banks in record numbers. One recently partnered with Google on its plans to create […]