Tag

Credit Unions

All articles tagged with #credit unions

finance9 hours ago•18 min saved

Family First Credit Union CEO Jane Smith exits after viral AI 'Lake America' post

Jane Smith, the CEO of Family First Credit Union in Saginaw, Michigan, has left her position effective immediately following a viral social media controversy. Smith posted an AI-altered photo of her family wearing 'Lake America' sweatshirts on September 11, 2026, while traveling to Canada. The image, which mocked President Donald Trump's recent executive order to rename Lake Ontario, sparked intense backlash in Canada and the US. The credit union disavowed the post, and Smith has been replaced by interim CEO Jason Acosta.

via Banking Dive|

#ai-ethics #banking #canada-us-relations

business8 days ago•5 min saved

Credit Unions Sidelined by Sharetec Data-Center Outage Across States

A cooling-system failure at Sharetec’s data-center infrastructure caused a core-processing outage that knocked online and mobile banking offline for multiple credit unions across several states; some institutions reported partial restorations and officials stressed there was no cyberattack or data breach, with restoration timelines varying and no indication that direct deposits were lost.

via CU Today|

#business #credit-unions #data-center

finance1 month ago•4 min saved

Anniversary promos spark top-tier CD rates as inflation nudges yields higher

Credit unions celebrating milestone anniversaries are advertising some of the nation’s highest CD rates, including Southland Credit Union’s 9% APY on a nine‑month CD and Lynchburg Municipal Employees FCU’s 6.5% APY on a 78‑month CD; though real value depends on deposit minimums, term length, and eligibility. Inflation and anticipated Fed moves are lifting CD yields overall, with CD Valet noting a rising median APY across terms and a proliferation of high-rate offers regionally and nationwide as competition for deposits intensifies.

via money.com|

#cd-valet #certificates-of-deposit #credit-unions

finance2 years ago•3 min saved

"Finding the Best Savings Interest Rates: Your Ultimate Guide"

Online-only personal savings accounts offer the highest interest rates, beating traditional accounts and even one-year CDs, while credit union checking accounts have significantly higher rates and lower fees compared to regional banks. Credit unions also offer the best CD rates across all maturities, while business accounts are the most expensive and offer the lowest rates. Overall, electronic statements are recommended to save money, and students can benefit from checking accounts with the lowest fees.

via USA TODAY|

#cd-rates #checking-accounts #credit-unions

finance2 years ago•5 min saved

"Comparing the Best CD Rates of 2024: Find the Top Offers Today"

The best nationwide CD rate has increased to 5.75% for a 6-month offer from Andrews Federal Credit Union, with NASA Federal Credit Union offering 5.70% for 9 months. While rates have slightly decreased since October's peak, they remain historically high, with 34 CDs paying 5.50% or higher. The Fed is expected to lower interest rates, making it a good time to secure a high-paying CD. Longer-term CDs are also attractive, with a 2-year rate of 5.27% and 4-5 year offers in the upper 4% range. Jumbo CD rates vary, and it's important to compare standard and jumbo rates before deciding. The Fed's decisions on rates have significant implications for CD rates, and while predictions are uncertain, current rates are likely to plateau or decrease from their record highs.

via Investopedia|

#cd-rates #credit-unions #federal-reserve

personal-finance2 years ago•5 min saved

Comparing CD Rates: High APYs and Short vs. Long-term Options

Several certificates of deposit (CDs) are currently offering annual percentage yields (APYs) of 6% or higher, but it's important to consider the fine print and eligibility requirements before investing. Many high-paying CDs are offered by credit unions with membership requirements, and some have short durations that may affect the actual earnings. Potential investors should carefully review the terms, early withdrawal penalties, and payment schedule. Additionally, it's crucial to assess whether a CD aligns with one's overall financial plan and to determine eligibility for membership. Experts advise considering the context of broader financial goals and the possibility of declining interest rates in the future.

via MarketWatch|

#apy #cds #certificates-of-deposit

cybersecurity2 years ago•1 min saved

"Cyberattack on Trellance Causes Outages for Dozens of US Credit Unions, Federal Agency Reports"

Around 60 credit unions in the United States are facing outages due to a ransomware attack on an IT provider they use, according to the National Credit Union Administration (NCUA). The extent of the outage and its impact on credit unions is still unclear. The attack targeted Trellance, a cloud computing firm provider used by credit unions, through a third-party vendor called FedComp. Ransomware attacks have increasingly disrupted critical infrastructure in the US, including hospitals, fuel pipelines, and schools, leading the Biden administration to address ransomware as a national security crisis.

via KABC-TV|

#credit-unions #cybersecurity #it-provider

finance2 years ago•5 min saved

"Maximize Your Earnings with Today's Top CD Rates: Up to 6%!"

Securityplus Federal Credit Union offers the leading CD rate of 6.00% for an 8-month term until November 30th. There are a dozen additional CDs paying 5.75% or better available in the daily ranking of the best nationally available CDs. The top national rates for terms of 2 to 5 years range from 5.20% to 5.60% APY. The top jumbo CD rate is currently 5.85% APY. CD rates may not increase further and could potentially decline due to anticipated interest rate stability and favorable inflation data.

via Investopedia|

#cds #credit-unions #finance

finance2 years ago•5 min saved

"Latest CD Rates: New High-Yield Offers Dominate the Market"

The top nationwide CD rate has reached 6% with an 8-month offer from Securityplus Federal Credit Union, available until November 30. Other competitive rates include a 13-month CD from Dow Credit Union at 5.76% APY, an 18-month certificate from Seattle Bank at 5.80% APY, and a 6-month certificate from TotalDirectBank at 5.76% APY. The Federal Reserve is expected to maintain interest rates, suggesting that CD rates may not increase further and could potentially decline.

via Investopedia|

#banking #cd-rates #credit-unions

finance2 years ago•5 min saved

"Unbeatable: Nation-Leading CD Rate of 6.18% Holds Strong"

The nation-leading CD rate of 6.18% APY offered by Bayer Heritage Federal Credit Union for a 1-year term remains unchanged, while other record-rate options are available. 14 other CDs offer rates of 5.75% APY or more, with two paying 5.80% APY. The Federal Reserve's decision on future rate increases remains uncertain, but CD rates are expected to stabilize at their current elevated levels.

via Investopedia|

#banking #cds #credit-unions

finance2 years ago•5 min saved

"Maximize Your Earnings with Top CD and Money Market Rates Today"

The best CD rates in the US are holding steady at record levels, with the top-paying nationwide CDs offering rates of 6.00% to 6.50%. Financial Partners Credit Union leads with a rate of 6.50% APY on an 8-month term, but with a maximum deposit of $5,000. For larger deposits, Credit Human and Sandia Area Federal Credit Union offer rates of 6.00% APY on terms of 12-17 months. The Federal Reserve is expected to announce a rate hold this week, but another increase may be possible in December or January.

via Investopedia|

#cd-rates #credit-unions #federal-reserve

personal-finance3 years ago•3 min saved

"Maximize Your Savings: The Best Rates and Accounts to Consider Today"

With high interest rates, consumers are opting to save money in high-yield savings accounts instead of spending. Credit unions and small banks offer better value for disciplined savers, with the top-earning high-yield savings accounts currently paying as much as 5.33%. A recent survey revealed that 3 in 5 Americans are spending less due to higher rates, and 56% are stashing more money in their bank accounts to take advantage of higher yields. Small banks and credit unions offer lower account fees and higher interest rates compared to national banks. However, despite increased savings, 1 in 2 Americans still have more debt than savings.

via Kiplinger's Personal Finance|

#credit-unions #high-yield-savings-accounts #interest-rates

finance3 years ago•5 min saved

Comparing CD and Savings Account Rates: October 2023 Update

Banks and credit unions have maintained steady CD rates ahead of the holiday weekend, offering record-high returns ranging from 5.75% to 6.00% APY. Credit Human leads with a customer-friendly CD rate of 6.00% APY for terms between 12 and 17 months. The Federal Reserve's recent rate hold suggests a pause to assess the impact of previous hikes, but further rate increases are still possible. CD rates are expected to rise if the Fed decides to increase rates again.

via Investopedia|

#banking #cd-rates #credit-unions

finance3 years ago•6 min saved

"Record-High CD Rates and New High-Yield Options: Your Guide to Today's Top Money Market Accounts"

CD rates in the U.S. are at their highest levels in over 16 years, with the top nationwide rates holding steady. Pelican State Credit Union offers the industry-leading rate of 5.90% APY on a 2-year certificate, while over two dozen other CDs are paying rates of 5.50% APY or better. The Federal Reserve's next meeting is in five weeks, and it remains uncertain whether interest rates will be raised or held steady. Longer-term options are available for those looking to secure rates of 5.00% or more. It is important to compare rates across different types of certificates before making a final decision.

via Investopedia|

#banking #cd-rates #credit-unions

finance3 years ago•6 min saved

"Comparing CD and Savings Account Rates: August 9, 2023"

The top nationwide rate on a certificate of deposit (CD) remains at 5.75% APY, but the only option available at that rate is a 9-month certificate from Andrews Federal Credit Union. However, there are 20 other options that offer rates of 5.50% APY or better. The longest term to earn 5.00% or more is three years, with a rate of 5.13% APY, unless you have a jumbo-sized deposit that qualifies you for 5.12% APY on a 4-year term. The Federal Reserve's next meeting on interest rates is in six weeks, and it is uncertain if rates will be raised again this year.

via Investopedia|

#cd-rates #credit-unions #federal-reserve