Hood Discusses the State of Credit Unions

REQUIRED INFORMATION FOR CREDIT UNION BOARD CHAIRMEN AND MANAGEMENT

Hood Discusses the State of Credit Unions; Calls
for Greater Diversity, Inclusion

ALEXANDRIA, Va. (July 29, 2020) – The COVID-19 pandemic and the national dialogue on the issues of diversity, equity and inclusion provide credit unions with an enormous opportunity to rise to the occasion to support their communities and members, National Credit Union Administration Chairman Rodney E. Hood said today.

“For credit unions, in particular, these events have taken on added significance because they highlight inequities that have long existed within the communities they serve throughout the United States,” Chairman Hood said. “The industry’s mantra of ‘people helping people’ can also serve as a useful moral guidepost for how we can transform today’s challenges into an opportunity for understanding, inclusion and healing.”

Hood delivered the keynote address at the 43rd Credit Union Leadership Convention. His remarks, which were delivered virtually, are available on the NCUA’s website.
View the entire press release

Comments

Why credit unions need to be formulating a strategy for crypto & digital...

“The future of money isn’t coming – it’s here, growing at $4 trillion and accelerating,” DaLand CIO, Jon Ungerland said in a statement. “Their solution ensures the institutions that matter most to American communities don’t miss the transition.” https://www.dalandcuso.com/videos-podcasts __ ______________________________________________ Check out NCOFCU's additional features: First Responder Credit Union Academy Podcasts YouTube Mini's Blog Job Board

Read Complete Article HERE>»

NCOFCU YouTube Video Minies

https://www.youtube.com/playlist?list=PLT3lzRTXnHw4YHnT2TzILxP7Rfkjn0eT1 __ ______________________________________________ Check out NCOFCU's additional features: First Responder Credit Union Academy Podcasts YouTube Mini's Blog Job Board

Read Complete Article HERE>»

Navigating Staff & Employee Compensation

The following videos will help you to navigate the complexities of salary and benefits for your credit union staff and employees. __ ______________________________________________ Check out NCOFCU's additional features: First Responder Credit Union Academy Podcasts YouTube Mini's Blog Job Board

Read Complete Article HERE>»

Fed Gets Green Light for Interest Rate Cuts as Unemployment Rate Jumps to 4-Year High

The Federal Reserve is now seen as likely to cut interest rates multiple times before the end of the year, following another weak jobs report that showed unemployment jumping to a four-year high. The U.S. economy added just 22,000 jobs in August, less than economists had expected, the Bureau of Labor Statistics reported Friday. The unemployment rate rose to 4.3%, up slightly from 4.2% in July but hitting the highest level seen since October 2021, when the economy was still recovering from pandemic-driven layoffs. Although the new jobs report was troubling news for the economy, for prospective homebuyers with secure jobs it likely means further easing in mortgage rates in the days to come. Mortgage rates hinge primarily on the yields of 10-year Treasury notes , which plunged Friday to their lowest level since early April, when President Donald Trump 's Liberation Day tariff announcement sparked panic in financial markets. It signals furth...

Read Complete Article HERE>»

Open Banking Pushes Leading Credit Unions Ahead In Race For Member Loyalty

https://youtu.be/pUIV8hwSDCE NEW YORK—Credit unions that embrace open banking aren’t just keeping pace with competitors—they’re pulling ahead, new data show. A new report finds that innovation in digital tools and personalized experiences is emerging as the decisive factor separating credit unions that win lasting member loyalty from those at risk of losing ground. “ The 2025 Credit Union Innovation Readiness Index: Closing Gaps, Winning Members ,” a June report produced in collaboration between Velera and PYMNTS Intelligence, underscores innovation as a defining factor for credit union success. iStock-Korakrich Suntornnites “Facing shifting expectations from both consumers and small to medium-sized businesses (SMBs) toward digital convenience and tailored experiences, credit unions must modernize not just to compete with traditional banks, but to remain relevant to their members. The report, based surveys of 500 credit union executives, 15,000 U.S. consumers, and nea...

Read Complete Article HERE>»

First-responder Credit Union Newsroom

Search This Blog