Credit Union Examiners to CEOs: Fair Lending Exams are Coming!
N Contracts
APRIL 2, 2024
We recently heard a credit union CEO say: “We are a credit union. We wouldn’t hurt our members, so we don’t have to worry about fair lending.”
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Ncontracts and America's Credit Unions Announce Alliance
N Contracts
FEBRUARY 22, 2024
February 22, 2023 – Ncontracts , the leading provider of integrated compliance, risk, and vendor management solutions to the financial services industry, announced today its agreement with America’s Credit Unions for the promotion of Ncontracts' full suite of time and cost-saving risk management solutions. BRENTWOOD, TN.,
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Trending Sources
Blue Federal Credit Union's Merger with Aventa Credit Union Is Official
Benzinga
MARCH 1, 2024
Cheyenne, Wyoming, March 01, 2024 (GLOBE NEWSWIRE) -- Aventa Credit Union, based in Colorado Springs, has fully merged with Blue Federal Credit Union, based in Cheyenne, Wyoming. Aventa Credit Union will retain its current name until later this year. The merger of both credit unions will.
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VyStar Credit Union Announces Intent to Merge with 121 Financial Credit Union
Business Wire M&A
APRIL 20, 2023
BUSINESS WIRE)--VyStar Credit Union announces its intent to pursue a merger with 121 Financial Credit Union. JACKSONVILLE, Fla.--(BUSINESS
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NCUA Approves Merger of Blue Federal Credit Union and Aventa Credit Union
Benzinga
JANUARY 3, 2024
03, 2024 (GLOBE NEWSWIRE) -- The National Credit Union Administration (NCUA) has approved the proposed merger of Blue Federal Credit Union and Aventa Credit Union. The credit unions, when merged, will do business as Blue Federal Credit Union, with combined assets of more than $2.1
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Harborstone Credit Union Announces Agreement to Acquire SaviBank
Benzinga
MARCH 22, 2024
based Harborstone Credit Union will acquire SaviBank in an all-cash transaction. The transaction is structured as a purchase agreement with Harborstone Credit Union purchasing substantially all assets and assuming substantially all liabilities of SaviBank.
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Blue Federal Credit Union and Aventa Credit Union Announce Intent to Merge
Benzinga
OCTOBER 19, 2023
19, 2023 (GLOBE NEWSWIRE) -- In a collaborative effort to enhance member financial well-being and community investment, Blue Federal Credit Union and Aventa Credit Union are thrilled to announce their joint decision to merge. Cheyenne Wyoming, Oct. billion and over 153,000 members.
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connectFirst Credit Union and Servus Credit Union Members Approve Merger
Benzinga
NOVEMBER 10, 2023
10, 2023 (GLOBE NEWSWIRE) -- Members of connectFirst and Servus have approved the proposed merger of their two credit unions. At connectFirst Credit Union's Special General Meeting, held on November 9, 2023, members voted 85% in favour of the merger. EDMONTON, Alberta, Nov.
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Small Banks And Credit Unions: From The American Dream To Cannabis Catalysts
Benzinga
OCTOBER 20, 2023
At the recent Benzinga Cannabis Capital Conference in Chicago, experts explored the role of small banks and credit unions in the cannabis industry. With regulatory challenges and evolving services, these institutions are vital for the sector's growth. What drives these smaller players into the cannabis business?
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Credit Union Fair Lending: The Most Common Mistakes & Violations
N Contracts
JULY 20, 2022
Credit unions should also be on alert, according to the National Credit Union Administration (NCUA). We have known for a while now that fair lending is a regulatory hot topic and that banks, mortgage companies, and fintech companies should be on guard.
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Global Credit Union and First Financial Northwest, Inc. Announce Agreement for Global Credit Union to Acquire First Financial Northwest Bank
Benzinga
JANUARY 11, 2024
11, 2024 (GLOBE NEWSWIRE) -- Global Federal Credit Union ("Global") and First Financial Northwest, Inc. First Financial Northwest Bank customers will become members of Global Federal Credit Union with full access to Global's extensive product and service offerings. "We ANCHORAGE, Alaska and RENTON, Wash.,
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UNCLE Credit Union Merges with Moore West Federal Credit Union
Benzinga
OCTOBER 12, 2022
12, 2022 (GLOBE NEWSWIRE) -- UNCLE Credit Union has officially assumed control of the operations of Moore West Federal Credit Union of San Leandro, California in Alameda County. LIVERMORE, Calif., This strategic merger marks the third that UNCLE has completed in recent years. Full story available on Benzinga.com.
15% of Credit Unions Have Consumer Compliance Violations. Are You One of Them?
N Contracts
MARCH 15, 2022
Credit unions are member-owned and would never do anything to deliberately hurt consumers— yet their track record isn’t flawless and the National Credit Union Administration (NCUA) is trying to do something about it.
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connectFirst Credit Union and Servus Credit Union announce intent to merge
Benzinga
MARCH 3, 2023
EDMONTON, Alberta, March 03, 2023 (GLOBE NEWSWIRE) -- On March 3, 2023, the Board of Directors of Servus Credit Union and connectFirst announced an intent to merge the two organizations to benefit members, employees, and our Albertan communities, subject to satisfactory due diligence as well as member and regulatory approval.
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72% of Banks and Credit Unions Prioritize Compliance When Evaluating Fintechs, According to Ncontracts Survey
N Contracts
SEPTEMBER 12, 2023
September 12, 2023 -- Ncontracts , the leading provider of integrated compliance and risk management solutions to the financial industry, revealed today that 72% of banks and credit unions are prioritizing compliance when evaluating fintechs, citing it as their top criteria in the due diligence process. BRENTWOOD, Tenn.,
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GRC Trends: Based on a Survey of 147 Banks and Credit Unions
N Contracts
MAY 23, 2023
Ever wonder how your peers at banks and credit unions are navigating the complex world of governance, risk, and compliance (GRC)? Curious about the latest risk management and compliance industry trends?
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Mercer Capital One of the Top Three Advisors to Credit Unions Acquiring Banks
Auto Dealer Valuation Insights
DECEMBER 21, 2022
Per S&P Global Market Intelligence, Mercer Capital is among the top three financial advisors for credit union-bank M&A deals since 2015. We work closely with our clients to provide all.
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Mercer Capital One of the Top Three Advisors to Credit Unions Acquiring Banks
Auto Dealer Valuation Insights
DECEMBER 21, 2022
Per S&P Global Market Intelligence, Mercer Capital is among the top three financial advisors for credit union-bank M&A deals since 2015. We work closely with our clients to provide all.
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Lighthouse Credit Union Joins Central 1
Benzinga
JUNE 29, 2022
VANCOUVER, British Columbia, June 29, 2022 (GLOBE NEWSWIRE) -- Central 1 is pleased to announce their newest Ontario member — Lighthouse Credit Union based out of Toronto, effective June 18, 2022. Lighthouse Credit Union is. Full story available on Benzinga.com.
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Credit Unions: Get Exam-Ready for 2023 with Top Takeaways from NCUA’s Supervisory Priorities
N Contracts
JANUARY 26, 2023
Last year the National Credit Union Administration (NCUA) surprised everyone with an especially long list of supervisory priorities. For 2023, the NCUA has a long list once again with interest rate risk, liquidity risk, and credit risk topping the list.
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Disaster Recovery Planning for Banks & Credit Unions
N Contracts
SEPTEMBER 28, 2023
Financial institutions must develop a disaster recovery (DR) plan to regain critical systems and resume normal operations following unforeseen incidents from wildfires to everyday power outages.
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Servus Credit Union announces acquisition of Stride Capital Corp. bolstering commercial equipment leasing business within Canada
Benzinga
JUNE 2, 2023
EDMONTON, Alberta, June 02, 2023 (GLOBE NEWSWIRE) -- Servus Credit Union Ltd. This move represents Servus's next step in reimagining its credit union business in response to the rapidly changing Canadian financial landscape. "We Servus) announced today the successful acquisition of Stride Capital Corp.
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One Ransomware Attack. 60 Credit Union Outages. Million of Upset Members.
N Contracts
DECEMBER 7, 2023
Imagine your data center is non-operational. Online and mobile banking and bill pay are down. It’s been days, and you have no idea when they will be working again.
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Where Are NCUA Examiners Focusing Attention in 2024?
N Contracts
FEBRUARY 29, 2024
Credit union exams are basically open-book tests. Examiners tell you exactly what they’ll be looking for and what they want to see.
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March 2024 Regulatory Brief: Junk Fees, BSA, and CRA
N Contracts
MARCH 7, 2024
Ncontracts’ regulatory compliance experts brief community banks, credit unions, mortgage lenders and others on junk fees, BSA, CRA and other hot topics
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Heritage Southeast Bancorporation, Inc. and VyStar Credit Union Agree to Extension of Purchase Agreement
Benzinga
MARCH 31, 2022
HSBI") announced today a mutual agreement with VyStar Credit Union ("VyStar") to extend the outside date for consummation of their proposed transaction through June 30, 2022. ATLANTA, March 31, 2022 (GLOBE NEWSWIRE) -- Heritage Southeast Bancorporation, Inc.
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Managing Fourth-Party Risk: What You Need to Know
N Contracts
JANUARY 22, 2024
What is fourth-party vendor risk and how do you protect your bank, credit union or other financial institution from it? Build a strong vendor management program.
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Key Risk Indicators for Banks, Credit Unions and Other Financial Institutions
N Contracts
JUNE 1, 2023
Identifying potential threats is essential for financial institutions. Internal and external business conditions are continually evolving, impacting an institution’s stability and success. The challenge lies in knowing what exactly to look for.
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TPRM 101: What Is Third-Party Vendor Contract Management?
N Contracts
JANUARY 18, 2024
The average community bank or credit union has between 400 and 600 vendor agreements. That’s a lot of contracts to manage. Without a standardized and centralized approach to contract management, there’s no way for a financial institution to truly understand its third-party risk or the controls available to manage it.
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Ncontracts Acquires Quantivate
N Contracts
DECEMBER 12, 2023
December 12, 2023 -- Ncontracts , the leading provider of integrated compliance, risk, and vendor management solutions to the financial services industry, announced it has acquired Quantivate, a growing provider of governance, risk, and compliance (GRC) solutions for banks and credit unions. BRENTWOOD, Tenn.,
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Key Performance Indicators in Banking | Ncontracts
N Contracts
SEPTEMBER 8, 2023
To meet its strategic objectives, a bank or credit union must decide what it wants to achieve and evaluate its progress toward these goals. Defining and measuring performance is necessary for financial institutions.
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Banking-as-a-Service (BaaS) Explained
N Contracts
OCTOBER 11, 2023
However, these partnerships introduce greater risks for community banks and credit unions, which must compete to attract the best fintech programs.
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Transom Capital-backed Scantron Acquires Btech
Benzinga
APRIL 11, 2024
Btech, a managed IT services provider headquartered in Pasadena, California, has earned a strong reputation amongst credit unions and other financial institutions since its founding in 2000. "We " said Steve Kim, Principal at Transom. "This
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Social Media Risk Assessment for Banks | Ncontracts
N Contracts
AUGUST 21, 2023
Social Media Risk Assessments for Banks and Credit Unions When IndyMac and Washington Mutual failed in 2008, it took weeks of negative reporting before customers pulled their deposits.
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Green Check Verified Acquires PayQwick To Boost Financial Ecosystem And Help Cannabis Businesses
Benzinga
SEPTEMBER 7, 2022
Green Check Verified addresses the lack of financial services from banks and credit unions, while PayQwick focuses more directly on serving the demand for cannabis businesses. Now, the combined entity will serve over 3,000 cannabis operators and over 120 banks and credit unions in 38 states before the fall election referendums.
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Expert Q&A: What Is a Risk Appetite Statement?
N Contracts
SEPTEMBER 19, 2023
As Senior Business Advisor at Ncontracts, he collaborates with banks, credit unions, and other financial companies to build out robust appetite statements that help them make strategically sound decisions.
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First Quarter Losses & Lax Compliance: Two Real-Life Fintech Due Diligence Mistakes to Avoid
N Contracts
JULY 26, 2022
These relationships help banks, credit unions, mortgage companies, and other fintechs satisfy consumer demands and keep pace in a rapidly evolving marketplace. Fintech relationships are game changers for financial organizations.
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Microsoft’s investment in OpenAI may face EU scrutiny, officials says
The Guardian M&A
JANUARY 9, 2024
European Commission says it is checking whether multibillion-dollar stake is reviewable under merger regulation Microsoft’s multibillion-dollar investment in the ChatGPT developer OpenAI could face a merger investigation in the European Union, officials have said.
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Why Financial Institutions Need a Vendor Onboarding Process
N Contracts
SEPTEMBER 30, 2022
Cornerstone Advisors recently reported that two out of every three banks and credit unions have entered at least one fintech partnership in the last three years. As banks look to “buy” versus “build” tech solutions, third-party fintech partnerships are on the rise.
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Are you struggling to keep employees engaged?
N Contracts
DECEMBER 1, 2022
Just 50% of banking and credit union employees are highly engaged and job satisfaction levels in the U.S. Nationwide worker shortages have led to big challenges for financial institutions. Not only have they been hard-pressed to find talent but keeping engagement levels high remains a top issue. continue to decline.
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Prudential Property Value: Our Efforts to Ensure Transparency and Consistency
IVSC
JULY 31, 2023
Drawing the conclusions from the global financial crisis, the Basel Committee on Banking Supervision (BCBS) published in December 2017 new requirements for the valuation of real estate for lending purposes in the context of the so-called ‘Standardised Credit Risk Assessment Approach’ (SCRA). The new Article 229 CRR reads: 1.
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How to Get a New Risk or Compliance Officer Up to Speed
N Contracts
MARCH 16, 2022
Training is important for anyone entering a new role at a bank, credit union, or mortgage company—but that’s not the only way to help a new employee get up to speed.
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LPL Financial to Acquire Atria Wealth Solutions
Benzinga
FEBRUARY 13, 2024
Atria supports approximately 2,400 advisors and 150 banks and credit unions, managing approximately $100 billion of brokerage and advisory assets. There is no question that LPL represents the best opportunity for a financial professional, bank or credit union to grow their practice or investment program."
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Core Banking Software Market Exhibits 18.3% CAGR to Surpass USD 40.67 Billion by 2029 | Report by Fortune Business Insights
Benzinga
FEBRUARY 28, 2023
Through this partnership, Mbanq caters to innovative Credit Union-as-a-Service (CUaaS) offering powered by Temenos for US Credit Unions. Request a free sample PDF - [link] Report Scope & Segmentation Report Coverage Details Forecast Period 2022 to 2029 Forecast Period 2022 to 2029 CAGR 18.3%
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