Students receiving new subsidized loans from the government to finance their college education can expect a rise in interest loans to roughly 6.8 percent. This change is expected to only affect a third of the students who apply for subsidized loans. This means that students will see their debt grow. Financing College Many Americans are... read more
Everyone works towards retirement in the hopes of enjoying their pension and social security and lead peaceful, simple lives. But the money saved from all their years of work sometimes isn’t enough to live comfortably once the working stops. To avoid this situation, many in the U.S. have turned to investing in high interest rate... read more
Americans can expect to see the new, redesigned $100 note in October of this year, the Federal Reserve Board announced this week. The bill's revamped design was made public in 2010, but after difficulties in the printing process, the released date was postponed. One of the most important and noticeable features is the blue 3-D... read more
The recent fertilizer plant explosion in the small town of West has inspired credit unions across the state of Texas to contact the Texas Credit Union Foundation (TCUF) in order to help fellow credit unions and members during their time of need. "In times of crisis, the Foundation is here to help our credit unions... read more
The majority of consumers are more willing to share personal information with their financial institutions in exchange for more personalized services, according to a new study by Cisco. The results from the study predict the future of retail banking, which will ultimately be identified by the degree of personalized services offered. "It might begin with... read more
News about the student loan debt crisis is on the forefront of American media outlets. Collectively, students surpass the $1 trillion debt mark attributed to high interest rates, rising tuition costs, and lower employment opportunities. More and more college graduates are facing monthly student loan payments that turn out higher than expected. The lack of... read more
Credit union trade groups are headed to Capitol Hill to talk about federal tax exemptions as Congress takes on tax reform. They will address the House Ways and Means Committee about the importance of tax reform preservation. The Credit Union National Association (CUNA) and National Association of Federal Credit Unions (NAFCU) launched 11 bipartisan groups... read more
Credit union loan growth is still widely attributed to an increase in vehicle loans, according to April reports. The first few months of 2013 showed surprising growth in the loan portfolio that has credit unions excited about consumer behavior. Dave Colby, Chief Economist of CUNA Mutual was surprised by the vehicle loan portfolio's first quarter... read more
The Bank of America is settling another one of its mortgage related accusations in the amount of $165 million. The National Credit Union Administration accused the bank over shady sales of mortgage-backed securities to corporate credit unions. Bank of America stated that the settlement would be paid for by existing reserves. Since the financial crisis,... read more
A total of 87 percent of adults in the United States own a mobile phone and 87 percent of smart phone users have accessed the internet through their mobile device during the last week. Taking into account these numbers, it only seems logical to bring mobile banking to a consumer market that is constantly on... read more
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