Newtek Business Services, Inc. has entered into a merchant acquiring agreement with Discover Financial Services, a business unit of Morgan Stanley, to offer an integrated payment card processing package.
Technology Groups Federal Credit Union and Mutual Security Credit Union have announced merger plans.
Ongoing Operations, LLC has opened its second disaster recovery center in Portland.
Treasury Secretary Henry Paulson was slated to swear in David G. Nason as assistant secretary for financial institutions just after deadline.
The credit union buzz over Wal-Mart's new "Money Centers" was a collective shrug last week.
Credit unions may have to contend with one more colossal competitor in the market following Wal-Mart's recent announcement to expand its Money Centers, but it has been done before.
Joining "in support of our fallen brethren," firefighter credit unions from across the U.S. and backed by CUNA used their Web sites and direct mail last week to drum up donations from their members to support the families of the victims of the calamitous June 18 warehouse fire.
The IRS has publicly released rulings recently in Technical Advice Memoranda stating that credit card interchange fees are not subject to unrelated business income tax.
American consumers consider credit unions to be twice as likely as many of the nation's biggest banks to do what's best for the consumer, not the institution's bottom line, a new study shows.
Marking an unusual team-up with bankers, the New Jersey Credit Union League is taking the lead in the state legislature this summer by spearheading a data breach bill protecting consumers and holding retailers responsible for breach costs.
The $650 million Gesa Credit Union has named Christina Brown its new president/CEO.
Bill Myers, retiring CEO of the $52 million Alternatives Federal Credit Union, headquartered in Ithaca, N.Y., already seems poised to hit the ground running as one of the new Field Coaches with the National Credit Union Foundation's REAL Solutions program.
One of the African-American Credit Union Coalition's key architects and long-time board members says he's all for bringing in new talent to keep the momentum going.
Financial services representatives from across the country recently attended CUNA Mutual Group's College for Financial Planning here as part of their preparation for the Certified Retirement Planning Counselor examination.
The New Jersey Credit Union League confirmed last week it has hired HRValue Group, a Plymouth, Mich., search and recruiting firm, to help find a new president/CEO.
Two longtime credit union foes are joining forces in the most literal sense: the American Bankers Association and America's Community Bankers have announced merger plans.
Commenters on NCUA's proposed regulation regarding the disclosure of executive compensation in a voluntary merger generally agreed that such decisions should be left up to the board of the credit union.
Credit union and charter choice advocates alike for the most part urged NCUA to forget about its proposed regulation on member inspection of credit union books, records, and minutes.
NASHVILLE -- CUNA Mutual's Discovery Conference opened with a lively, unscripted panel session with some of the top leaders in the industry. (From left): WesCorp CEO Bob Siravo, CO-OP Financial Services CEO Stan Hollen, Credit Union Times Editor/Publisher Paul Gentile, Fiserv CU Division President Joe Barry, and CUNA Mutual CEO...
Credit union representatives and their regulator applauded a recent Treasury and Financial Crimes Enforcement Network announcement that it would be seeking ways to streamline Bank Secrecy Act compliance.
In what might be the strongest regulatory effort to date that addresses unsolicited merger attempts within the movement, Texas state-chartered credit unions could potentially have more protections than those in other states.
Congressman Gregory Meeks (D-N.Y.) recently participated in the New York State Credit Union League's Metropolitan Chapter roundtable at Melrose Credit Union in Queens.
State chartered credit unions in New York are awaiting the governor's signature on a bill that would provide them parity with their federal counterparts.
The Credit Union Regulatory Improvements Act (H.R. 1537) recently gained three more co-sponsors bringing the total to 107.
Credit unions voted June 22 at special general meetings here to merge Credit Union Central of Ontario Limited and Credit Union Central of British Columbia to create Central 1 Credit Union.
The Orlando Sentinel recently ran an article featuring a victim of payday advance rollovers who was ultimately rescued from the burden by his credit union.
NAFCU said it still is concerned about future "hostile" merger attempts nearly two months after the dust has supposedly settled over the Wings Financial Federal Credit Union merger campaign.
Redwood Credit Union is a sponsor of the City of Santa Rosa's "Peanuts on Parade" program, honoring the work and contributions of longtime Santa Rosa resident Charles M. Schulz.
Travis Credit Union is helping to make it easier for its military members to handle their finances overseas with its recently launched deployment guide. Available on its Web site www.traviscu.org, the deployment guide entitled, Financial Preparations Before Deployment, describes services to help members deal with their accounts; options for designating...
Smaller credit unions under $500 million are going Cuckoo to compete with bigger banks--and that is a great thing.
NASCUS welcomed two new state regulators into its fold at its Washington, D.C.-area headquarters June 20-21.
The Small Business Administration selected Mazuma Credit Union as a 7(a) program Express lender.
According to a local newspaper report, NCUA liquidated $2.7 million Cambria Federal Credit Union last week.
The IRS is currently circulating proposed updates to its Form 990 for tax-exempt organizations, which has not been touched since 1979.
NASCUS President/CEO Mary Martha Fortney was recently elected to serve as president-elect of Women in Housing and Finance.
Thirty credit unions are now using the online honor deposit system UPost from eCU Technologies.
Open Solutions Inc. says it has signed a five-year deal to provide core processing and complementary services to Eastern Credit Union of Trinidad and Tobago.
When it comes to member loyalty credit unions can't afford to overlook their call centers.
Northwest Corporate Federal Credit Union will be going directly to Symitar for its core processing, the organizations say.
Summer has arrived as another season of milestones for Passageways, LLC.
An increasingly crucial part of the credit card portfolio management team at Navy Federal Credit Union is a piece of software that engages in something called adaptive analytics.
Amplify Federal Credit Union will be providing its staff training through a Web-based learning and content management system from Las Vegas-based Travitor Media LLC (www.travitor.com).
KeyPoint Credit Union has become the latest financial institution to commit to the mobile online banking solution from MShift.
A solution integrated with the Episys core system to track and manage credit card alerts is the latest offering from CUTEK, a consultancy for credit unions using the Symitar system.
Online shoppers tend to be online bankers who pay bills online and value security when doing all this e-commerce activity, according to a new survey.
Stanford Federal Credit Union is making sure it doesn't get caught in the proverbial catbird seat when it comes to securing its virtual network. The $801 million CU is one of the first users of the new V-Agent virtual appliance protection system from Catbird Security.
Spam continues to grow in volume, but e-mail users seem to be less bothered by it, according to the latest survey results by the Pew Internet & American Life Project. The survey, conducted in February and March, indicates that e-mail users have become more sophisticated about dealing with spam through...
While businesses of all shapes and sizes, including credit unions, often point to data security as a vital issue, perhaps not all that many have centralized, enterprise-wide business continuity mechanisms in place in case of a data emergency, according to a new report.
COCC continues to grow its Check 21 business, this time announcing plans to convert a majority of its check-processing clients to the Federal Reserve Bank's image inclearing product.
n the past, credit unions were content to use their core systems to handle transaction processing. If they needed a different service, like ATM or online banking, they simply added that provider as a standalone unit. In time, credit union operations began looking like abstract paintings--with a splash of this...
Consolidation has happened on all levels of the bank and credit union industries so last week's announcement that the American Bankers Association and America's Community Bankers are merging is no big surprise.
While the credit union industry will certainly challenge the IRS' interpretation of its Unrelated Business Income Tax and how it applies to state-chartered credit unions, state charters in the meantime must make some accounting adjustments.
In a freewheeling, unscripted opening session, some of the industry's top leaders gave their take on some of the most pressing issues in the industry.
CNBC's Larry Kudlow painted some bright pictures for Discovery attendees.
Baxter Credit Union is the 2007 recipient of CUNA Mutual Group's Roy F. Bergengren Award for High Achievement.
CUDL reported high penetration numbers for its AutoSMART program and Web site (www.cudlautosmart.com).
im Jordan, president/CEO of Schools Financial Credit Union of Sacramento, has been elected the new chairman of CU Direct Corp. for the ensuing year.
In a bid to expand its reach to independent auto dealers, CU Direct Corp. announced last week it has reached an agreement with Manheim Automotive Financial Services of Atlanta to offer the firm's inventory financing/funding package to client credit unions.
Based on regional conditions, two very different economic scenarios seem to be playing out this summer for credit unions involved in indirect lending, according to speakers at last week's Annual Lending Symposium sponsored by CU Direct Corp.
Credit unions risk being outmaneuvered by big banks and the captives if they fail to tighten up their tracking and monitoring of auto loan data, a leading indirect lender, Larry Biernacki, president/CEO of the $509 million Arkansas Federal Credit Union, Jacksonville, Ark., warned last week.
After years of what were described as "troubled relationships," credit unions are now getting high marks from auto dealers on their ability to bring in profitable business, an automotive publisher and former Evansville, Ind. dealer told CU loan executives here.
With careful controls, credit unions stand to reap profits from lagging auto portfolios by offering more nonprime loans, according to a CUNA Mutual Group executive.
The Pension Protection Act of 2006 has created new opportunities and responsibilities for employers, according to some CUNA Mutual financial experts.
Trina Brown joins First Credit Union with more than 30 years of financial services experience as the new business relationship officer in the business services department.