September 10-13

Congressional Caucus - Washington DC

September 10-12

Southeast Small Credit Union Conference - Huntsville, AL

September 11

Loan Decisioning Boot Camp - Online

September 13-15

Elevate Credit Union Summit - Oklahoma City, OK

September 18

The Harvest Golf Tournament - Phoenix, MD

September 26-27

Branch Manager Workshop - Online

September 26-27

Wisconsin Credit Union Connect - Oshkosh, WI

What's Causing Americans to Drop Home Insurance Coverage?

Motivated by rising premiums and perceptions of lower risk, American homeowners are increasingly dropping or opting out of home insurance coverage. According to a survey by Triple-I, 12% of homeowners in the US do not have home insurance coverage and about half have annual household incomes below $40,000. Recent data from Bankrate show that the national average for home insurance on $250,000 in dwelling coverage has surged by 20% compared to the previous year. Additionally, some homeowners are struggling with insurers nonrenewing certain policies due to heightened risks associated with severe weather damage.

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insurancebusinessmag.com

Auto Industry's Shift to EVs Gets $12 Billion Boost

The auto industry is spending billions of dollars converting their factories from building gasoline-engine vehicles to EVs. The investments have spurred a building boom of new car factories in the U.S. and has led car companies to scale back in other areas, such as layoffs and streamlining operations not essential to the EV future.

Automakers are expected to get up to $12 billion in funding to retrofit existing manufacturing facilities in the U.S. to produce electric and hybrid vehicles. A majority of the funding will be allocated from an advanced-vehicle manufacturing program, the remaining $2 billion will come from funds allocated from the Inflation Reduction Act passed last year. The funds will help provide jobs in longstanding automaking communities as the auto industry transitions to electric vehicles. Additionally, billions of dollars has been shelled out by companies and the U.S. Government to establish a North American supply chain for rechargeable battery materials as it races to catch up to China, which dominates the supply chain. The DOE plans to make $3.5 billion available for domestic battery manufacturing.

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wsj.com