Lending

Credit quality has remained strong at credit unions, but there are hints that some of them — especially the smallest ones — could report lackluster earnings well into next year, according to the National Credit Union Administration's latest intel on industrywide finances.

Underwhelming participation in the middle-market loan program has forced the central bank to reduce the minimum borrowing amount for the third time, to $100,000.

When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly.

Crane Credit Union has taken an Instagram Stories-like approach, while Certified Federal Credit Union is crafting personalized email messages.

The industry says the 2017 cut in the corporate rate helped position lenders to support the economy when the pandemic hit. But a plan proposed by Democratic nominee Joe Biden could strain banks’ capital investment and hiring, observers say.