Good News: Bank Card Defaults Are Down

The bank card default rate experienced its first drop in nine months with four basis points to 3.49%, according to a new report from S&P Dow Jones Indices and Experian. That’s good news for card issuers, including credit unions.

These indices represent a comprehensive measure of…

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Nearly a Quarter of Americans Have No Emergency Savings

Nearly a quarter of Americans have no emergency savings, according to a new report from Bankrate.com.

However, the percentage of those without an emergency fund currently sits at a six year low, down to 24% this year from 28% last year.

Additionally, Americans with an adequate savings cushion – enough…

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1934, the Year Credit Unions Got Presidential Support

It was in 1934 that President Roosevelt signed the Federal Credit Union Act, greatly broadening consumers’ options for managing their finances, the U.S. Census Bureau reminds us.

Credit unions differ from banks by being member-owned and controlled. Credit unions are nonprofit institutions where groups of people can save…

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Credit Unions Face an Uptick in Auto Loan Fraud

Credit unions are seeing an increase in losses due to auto loan fraud, reports Peter Strozniak in Credit Union Times.

Strozniak report, in the June 09 issue of CU Times, cited research from Frank McKenna, chief fraud strategist for PointPredictive, a San Diego firm that provides machine learning fraud solutions…

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Car Prices: Something Funny Is Going On

People are paying way too much for new vehicles these days, with average transaction way out of whack with average household incomes.

According to Kelley Blue Book, the estimated average transaction price (ATP) for light vehicles in the United States was $33,261 in May 2017. According to the government…

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