The project will deploy $20 million as secondary capital to expand economic relief and financial inclusion, and follows a $1 million project last summer aimed at helping low-income consumers in Rust Belt cities.
The nation's third-largest credit union saw a huge lending spike in 2020, especially in its mortgage division, while membership grew by 159%, thanks in part to merger activity.
A Democratic majority in Washington may help advance a number of key legislative issues for the industry, such as passage of a national data security standard. However, it could also lead to a renewed focus on consumer protection laws.
Brian McVeigh passed away on Dec. 31, following a 14-month battle with brain cancer, according to a release from the Michigan Credit Union League, having spent more than 35 years serving in a variety of roles at CUs across the state.
Members of the House could return to Washington early this week to vote on impeachment, while the National Credit Union Administration will revisit risk-based capital rules.