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CUNA Mutual Group announced today it has made a $20 million contribution, the single largest of its kind, to the CUNA Mutual Group Foundation that will further its long-term commitment to the communities and industry it serves. The unprecedented boost in funding, aided by federal tax reform, helps the company’s foundation further support nonprofit organizations that address economic challenges, education disparities, and equity issues facing many communities today.
"By using technology effectively, credit unions can wow their members while also reducing operational costs and improving compliance," said Valentin Saportas CEO of MortgageHippo, a CMFG Ventures portfolio company.
"There’s greater awareness that the global economy is highly interconnected, and strong growth is more available in countries that are early in their life cycles," said Scott Knapp, managing principal for CUNA Mutual Fiduciary Consultants.
"Some forms of payments fraud, such as checks, wire transfers and plastic card, have been around for years, while others are emerging," said Ken Otsuka, CUNA Mutual Group senior consultant, risk and compliance solutions.
Steven Rick, CUNA Mutual Group chief economist, said overall growth in credit union auto loans will be limited by lower new car sales. "Expect auto sales to slow to 17 million units in 2018 as pent up demand fades away," he said.
Kemba, A+ Federal, and Michigan Educational Credit Unions Sign With CUNA Mutual AdvantEdge Analytics
CUNA Mutual AdvantEdge Analytics today announced that Kemba Credit Union with $800 million in assets, headquartered in Cincinnati, Ohio, A+ Federal Credit Union, with $1.3 billion in assets, headquartered in Austin, Texas, and Michigan Educational Credit Union, with $800 million in assets, headquartered in Plymouth, Michigan will partner with AdvantEdge Analytics to build their advanced analytic platforms and services to gain better member insights.
“The abundance of identity data available for purchase—including fake names, social security numbers, driver’s license numbers, and even birth certificates—exacerbates the problem,” says Jim Bullard, CUNA Mutual Group senior consultant for risk and compliance solutions.”
“In times of crisis, we have always come together, rallying as a cooperative movement to support a common cause,” said Beth Cutler, Community Relations Director, CUNA Mutual Group. “So let us make a difference now for our friends and colleagues who need us.”
“These loans will become more expensive since their rates are directly linked to the prime rate, which in turn is affected by the Fed's key rate,” said Steve Rick, CUNA Mutual Group chief economist.
“The major monetary policy question surrounding the December meeting isn’t whether or not there is a hike now, however, but what’s said within the statement in relation to the raising of rates in 2018 and perhaps 2019,” said Steve Rick, CUNA Mutual Group chief economist.