Research and Development

How Well Credit Union Employees Are Paid?

How Well Credit Union Employees Are Paid?

Credit Union Employment As a vital financial service sector, credit unions have a significant workforce in every state. Credit unions are also the business that hire a lot of worker on part-time basis especially the small credit unions. For example, credit unions with less two million dollar assets have three times more part-time employees than full-time ones. The table lists employees work for different peer groups of credit union at the last quarter of year [Read More...]
Credit Union Scholarships

Credit Union Scholarships

Scholarships About a third of credit unions offer scholarships to their members and/or the members' families to help them pursuing higher education. Many of the scholarships are merit based requiring the recipients to have certain GPA levels or even ACT/SAT scores. Most of the scholarships ask the applicants to submit an essay on a list of given topics. Scholarships are normally awarded for the first year of college but they can be for members who are already in college or still in high [Read More...]
Credit Union Statistics

Credit Union Statistics

According to NCUA's 5300 Call Report Quarterly Data, as of March 31, 2016, there are 6,080 credit unions across the United States and its territories. Among them, 3,231 are federally chartered and federally insured, 2,233 are state chartered and federally insured, and 126 state chartered and not federally insured credit unions. The reported total assets are $1.2559 trillion, total net worth are $135.46 billion, and total members are 105.0 millions. The median total assets of all credit unions [Read More...]
Minority Designated Credit Unions

Minority Designated Credit Unions

This is the definition of minority designated institution (MDI) according to NCUA, A credit union qualifies as an MDI when “the majority of the Board of Directors, account holders, and the community which it services is predominantly minority.” (Hereinafter, when minority representation is required to be “predominant” or to consist of a “majority,” i.e., greater than 50 percent in either case, it will be referred to as “>50%”). NCUA adopted a definition of a minority [Read More...]
Business Loans

Business Loans

If you want to start a business especially a small business, your credit union may be able to provide financial help to you. Many credit unions offer business loans or micro business loans to their members. There are many benefits to get a business loans from a credit union comparing to get a business loans from a commercial bank. Here is a few: 1. Better Rates and Lower Fees 2. Fast Approval 3. Willing to Lend Small Amounts You can find credit unions that provide business loans in your [Read More...]
Remote Deposit Capture

Remote Deposit Capture

Remote Deposit Capture (RDC) allows a credit union member to deposit checks by taking a picture of the check with a smart phone. The smart phone will have to have the application installed. Those apps are normally offered free of charge with a credit union's mobile banking application. The rapid growth of RDCs benefit both the member and the credit union. With the security concerns of members easing, more and more members start use the technology. The the following video demos how RDC actually [Read More...]
Top Credit Unions

Top Credit Unions

Top 50 Credit Unions By Total Assets RankCredit Union NameTotal Assets($b)No.of MembersNo of BranchesMain Office1 Navy Federal Credit Union 75.17 6,103,507 280 Vienna, VA 2 State Employees' Credit Union 33.32 2,076,314 256 Raleigh, NC 3 Pentagon Federal Credit Union 19.92 1,400,489 35 Alexandria, VA 4 Boeing Employees Credit Union 15.04 956,439 42 Tukwila, WA 5 Schoolsfirst Federal Credit Union 12.23 689,637 46 Santa Ana, CA 6 The Golden 1 Credit [Read More...]
Credit Scores and Marriages

Credit Scores and Marriages

Credit Score and Marriage It is not just to amuse you, but research finds there is a close relationship between credit scores and people's marriages. Couples who have similar credit scores are likely to stay together longer than those who have very different credit scores. As to the explanation, research finds that financial issue is one of the most influential issues in people's lives and activities. People with similar credit scores are likely to have similar spending and saving behaviors, [Read More...]
Benefits to Join A Credit Union

Benefits to Join A Credit Union

When come to credit unions, to join or not join is really NOT a problem. If you are an individual, credit union is a better choice that commercial banks. This is [Read More...]
Credit Scores are now Free

Credit Scores are now Free

You all probably know that OUR credit scores finally are available to US free of charge now. Have we waited too long?! Yes,maybe, but it is free now, so what you complain about. But, do you ever think why it becomes free and what have pushed the credit score agencies to give up the money, the consumers, governments, or just a good deed from the big brothers? Leave your thoughts below [Read More...]
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