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…
Over 450 Credit Unions Offer Payday Alternative Loans
Payday loans typically come with very high annual percentage rates and are generally due in one lump sum, often on the date of the borrower’s next paycheck. As a rule, the lender does not take into consideration the borrower’s ability…
U.S. Banks Lost Over 45,500 Jobs in 2023
The number of full-time equivalent (FTE) U.S. bank employees dropped 2.2% during calendar 2023 for a loss of over 45,500 jobs. Over 75% of those job losses came from just nine banks with 4-Star Wells Fargo Bank, Sioux Falls, SD…
Cross Border Banking, Double the Fines
The number of U.S. banks under foreign company control is now much less than it was 15 years ago, but the assets at some of those banks, particularly those with Canadian company ownership, have grown tremendously. Canadian firms own currently…
Fed Waived its Magic Wand and Rates Stayed the Same
As the Federal Reserve holds out for signs that inflation is moving steadily down toward its 2% goal, the target Fed Funds rate remains between 5.25% and 5.50%. The downside to that is that banks will have to pay more…
Credit Union Growth Unchained
Whether offering teaser rates to increase membership, opening new branch offices, or acquiring smaller rivals, our nation’s credit unions are growth-driven. In fact, 50 credit unions with 25% or more growth in assets during 2023 can be found on page…
Teach Children (and Adults) to Save and be Savvy
Research has shown that lifelong money patterns and habits are largely established by the second grade. That’s age 7 for most children in the U.S., but children can begin basic concepts of saving and spending as early as age 3.…