Credit unions

Subordinated debt issuances and asset-backed securities have helped institutions of all asset sizes weather recent market uncertainties and fuel campaigns for growth, according to executives and investment experts.

Car loans are among the bread-and-butter products for credit unions, but slowing demand and growing delinquencies are putting some pressure on the category.

Credit unions like to boast that they offer lower rates than banks, but many are bucking that trend to boost liquidity and offset other costs.

This year likely won't match 2022's heights, but executives expect loan growth to remain solid.

Roughly 40,000 residents of Moore County have been left without power since Saturday, when gunfire damaged two substations. Financial institutions are urging residents to use online banking and call centers if they do not have access to a branch.

USAlliance Federal Credit Union in Rye, New York, has agreed to merge with Marriott Employees' Federal Credit Union in Bethesda, Maryland, to create a nearly $3 billion-asset organization.

Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.

The Consumer Financial Protection Bureau's review of credit card late fees has ignited pushback from industry that supports an expected 9% jump in fees next year pegged to inflation. 

Multiple factors have slowed residential sales, tightening the market for home loans for banks and credit unions.

Although small banks and credit unions are enjoying healthier loan portfolios, they are also bracing for potential setbacks due to higher interest rates and inflation.