A federal credit union may be allowed to expand outside its defined area if the target area is “underserved” by other financial institutions. During 2022 and 2023, 49 credit unions did just that. Some did so more than once. These…
The Housing Situation is “Complicated”
Increasing the Fed Funds Rate 5.25% in a 16-month period was quite a shock to the housing market, especially after being near zero since March 2020. As of this writing, the Fed Funds rate has held steady for 11 solid…
New C.U. Star-Ratings and Data Now Available
Federally-Insured U.S. Credit Unions hold roughly $167 billion dollars in uninsured shares or deposits. About 3/4s of the industry has some amount of uninsured deposits on their books. In addition to looking at key metrics from 1st quarter 2024 credit…
Threading a Narrow Interest Rate Gap
The net interest margin (NIM) at our nation’s community banks dropped 26 basis points during the 12 months ending March 31, 2024 and is now at 3.23%. In this week’s issue of Jumbo Rate News, we list 50 community banks…
All New Bank Star-Ratings this Week
The FDIC likes to put a positive twist on its quarterly data press release, but we know well enough to look beyond. Aside from tightening interest margins and deterioration in credit card and CRE loan quality, the industry has witnessed…