Moving Money: Bank, credit unions expand in the face of COVID

COVID-19 changed the way banks and credit unions operated, shifting many branch services to online platforms. But the pandemic didn’t stop some from moving to brick-and-mortar expansions and, in one case, undertaking a major merger. The big news roiling the local banking scene was Columbus, Ohio-based...

House Warming: Grand Traverse market stays hot into 2021

As a mortgage lender, my job is largely contingent upon the state of the real estate industry. So, when I had conversations with real estate agents about what 2020 might look like, I was concerned too. In the early days of the pandemic, Michigan’s real estate...

Cash Cow: Bank, credit union deposits explode up to 48%

Early last spring, TBA Credit Union was averaging about $65,000 a month in deposits from unemployment benefits. Between April and August, that number jumped to $3 million a month as thousands of newly laid-off people deposited their jobless benefits. Overall, TBA deposits are up 20% as of...

What Is Fiduciary Investment Advice and Why Does It Matter?

Is all investment advice equal? Seems like an easy question to answer, right? We assume that someone who is providing financial advice knows what they’re talking about. The problem is that isn’t always the case. In fact, there is no educational requirement for those who...

Easy Money: Online banking shift from shutdown is now ‘permanent’

Online banking has been growing for years, but local bankers say the coronavirus pandemic has turbocharged the trend. They’ve seen customers rapidly moving to a variety of digital banking applications, including online check depositing, electronic signatures for loan documents and digital wallets, which store credit and...