In a potentially good sign for credit unions, last week credit card spending reached its highest point since the start of the coronavirus pandemic, according to data from PSCU.

The group is just the latest industry organization to already alter plans for a gathering scheduled for 2021.

The pandemic has highlighted massive inequalities in American life but the financial services industry can play a role in reducing these divisions.

The league has altered its formula for calculating member dues, a move expected to save credit unions nearly $800,000 next year.

The chairman of the National Credit Union Administration said during his limited time in a Senate Banking Committee hearing that he hoped changes to the agency's Central Liquidity Facility would last for the duration of the pandemic.

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.

The industry has an opportunity to build deeper relationships with members right now by communicating in a proactive and empathetic way.

As lawmakers look for ways to plug budget gaps, credit union groups are preparing for a possible assault on the industry's tax exemption at the state and federal level.