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American Banker
Credit Union Briefing
April 9, 2024
Hi, Johnna. Here’s the latest from the world of credit unions.
Today’s Top Stories
Credit unions
Navy Federal contract with Department of Defense is live
Charleston, South Carolina, USA - February 28, 2020: One of the Navy Federal bank branch in Charleston, South Carolina, USA, the largest natural member credit union in the United States.
The $171 billion-asset Navy Federal Credit Union began operating roughly 60 locations and more than 270 ATMs as part of the Overseas Military Banking Program this month. The contract was awarded in September of last year, but faced federal deposit insurance challenges and industry pushback from credit unions and banks alike.
Digital Federal Credit Union debuts self-service mortgage portal
The $12.1 billion-asset DCU launched the loan platform in 2022, and has seen volume jump by close to $600 million from when talks began in 2019 to last year.
Branch banking
Bank branch acquisitions gather momentum
Based on the pace of deals through late March, the banking industry is on track for the most branch sales since 2021. Buyer interest has mounted alongside the need to acquire deposits, following hits to funding bases last year.
Partner Insights from amply
Finance is the top industry Gen Z wants to work in
Finance has replaced healthcare and medicine as the top-ranked profession in terms of career prospects.
Read all the latest
American Banker
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