NCUA votes to maintain interest rate ceiling at 18%

The NCUA Board held its first meeting of the year yesterday and unanimously approved maintaining the current temporary 18 percent interest rate ceiling for loans made by federal credit unions (FCUs) for a new 18-month period. The extension begins after the current period expires March 10. The NCUA Board has consistently maintained the interest rate ceiling at 18 percent for decades by extending the expiration date.

NAFCU-sought bipartisan CU board meeting modernization bill reintroduced in House

Reps. Juan Vargas, D-Calif., and Bill Huizenga, R-Mich., Thursday introduced NAFCU-sought, bipartisan legislation – the Credit Union Board Modernization Act (CUBMA) – to revise language in the Federal Credit Union Act related to the requirement that credit union boards meet once a month.

NAFCU’s Berger meets with HFSC Ranking Member Waters on CDFI Fund concerns

NAFCU President and CEO Dan Berger and members of the CDFI Fund Coalition Thursday spoke with Rep. Maxine Waters, D-Calif., to stress NAFCU-member CDFIs’ desire to help their communities and to voice their concerns that the proposed changes to the application will restrict access to the fund and its resources.

Engage 2023: NAFCU’s Annual Conference

Unforgettable experiences await your spouse/guests in Southern California. Plus, enjoy an extra tour you can enjoy together to see the best of the area alongside your spouse/guests! You’ll also discover solutions to help you build a bigger, better CU.
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5 things to know this week

NAFCU's widely read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources.

Latest GDP mostly ‘positive’ says NAFCU Chief Economist 

The Commerce Department released its advanced estimate of economic activity Thursday, revealing the U.S. economy grew 2.9 percent – in terms of real Gross Domestic Product (GDP) – in the final quarter of 2022. NAFCU Vice President of Research and Chief Economist Curt Long analyzed the data in a new NAFCU Macro Data Flash report and shared insights with CNBC.

December caps lowest annual level of new home sales since 2018

While new home sales rose 2.3 percent in December to 616,000 annualized units, sales were 26.6 percent lower than a year ago. November’s new home sales were revised down 38,000 units. NAFCU Chief Economist and Vice President of Research Curt Long noted “December capped off the smallest annual total of new homes sold since 2018.”