C (Capital Adequacy)

Matt Egan, CNN Business, in a May 12, 2020 article on cnn.com, writes: “The savings rate in the United States climbed from 8% in February to 13.1% in March. That was the highest savings rate since November 1981. And given the disastrous economic news, the savings rate will likely go even higher when April statistics are released.”

“…on May 20, 2020, the NCUA and the federal banking agencies released the attached Interagency Lending Principles for Offering Responsible Small-Dollar Loans. The general principles described in the statement apply to all credit unions that make small-dollar loans.

In a May 2020 article, on bloomberg news, John Gittelsohn writes: “Delinquencies on U.S. home loans surged by 1.6 million in April, the biggest one-month gain ever, as soaring job losses fueled a 90% jump in missed payments and government programs offered penalty-free delays.”

In a May 15, 2020, article on newsweek.com, Eddy Rodriguez writes: “More than half of Americans who have taken money out of their retirement savings accounts did so to cover basic expenses during the coronavirus pandemic.” Consumers need all the help they can get from their financial institutions. For many credit unions, this will require new or modified services.

According to a study by the NCUA’s Chief Economist, credit union members could save thousands of dollars on their mortgages when compared to borrowers at other financial institutions.

In a recent column on reuters.com, Ann Saphir writes “Dallas Federal Reserve Bank President Robert Kaplan on Tuesday repeated his view that the current setting of U.S. interest rates is “roughly appropriate” through the end of this year, even as he noted risks from the flu-like epidemic that has brought parts of China to a halt.”

Jacob Passy writes in a January 26, 2020 article in marketwatch.com that upcoming changes in FICO’s credit scoring system will have an impact on many consumers and lenders.

Ray Birch writes, in a January 5, 2020 article on cutoday.info, “Experian early this year will introduce a new credit score product it says will help financial institutions make loans to more credit invisible and thin-file consumers—a huge market of more than 100-million people.”