The pandemic has altered a variety of consumer behaviors, and that could make a difference in what sort of interchange and interest revenue financial institutions see in their credit and debit portfolios as they close out 2020.
Savings to the credit union regulator's operating budget are largely the result of surplus funds from 2020 and expected reductions in travel into next year.
Kathie Kasper spent 24 years at the Livermore, Calif.-based institution, having started as a teller in 1976 and ultimately rising to the level of chief executive.
Bill Bynum, president and CEO of Hope Federal Credit Union, and Gail Laster, former director of the National Credit Union Administration's consumer-protection division, are working with the incoming administration.
Many credit unions offer these accounts to help members improve their financial behaviors, but some in the industry are wondering how long the surge could last.
