Quirky comedian Bob Newhart will headline the entertainment for NAFCU's 41st Annual Conference slated here in July.
Two state leagues, Illinois and Georgia, are getting an early jump on advocacy campaigns in 2008 with diverse branding aimed both at reaching a youthful demographic and developing emotional ties to the CU service mission.
NAFCU said while it supports the Small Business Administration's efforts to improve oversight of the agency's guaranteed loan portfolio, it is concerned about the lack of transparency regarding key aspects of the SBA Lender Risk Rating System.
President George W. Bush has appointed Navy Federal Credit Union President/CEO Cutler Dawson to the President's Advisory Council on Financial Literacy.
A message from Bradley Rock, chairman of the American Bankers Association, placing opposition to credit unions high on the organization's agenda has riled CUNA.
The California Credit Union League will meet with Governor Arnold Schwarzenegger on Feb. 7 to discuss ways to implement his new Bank on California program. However, thanks to the Golden State's current budget crisis, there will probably be little funding for the initiative if any at all.
Ron Fong, the California league's Director of State Government Affairs, told the Credit Union Times state Assemblyman Dave Jones (D-Sacramento) will reintroduce the Data Breach Bill, AB 779, which was vetoed by the governor last year. The bill, which was sponsored by the league, requires merchants to take financial responsibility...
Credit union lobbyists are working hard to see if they can attach different parts of the Credit Union Regulatory Improvements Act (H.R. 1537) to the so-far fast-moving economic stimulus package.
June 29, 2007 might seem like a distant memory at this point, but it was a day when thousands across the country vied to be the first iPhone user on the high-tech block. Months later--despite early network initialization and rebate issues--there's no denying that the Apple iPhone was a hit.
SilverCloud Software Inc. said it has signed five new credit unions in the past month and expanded its relationship with seven others.
Langley Federal Credit Union is touting the "green" ethos as well as the greenbacks it saves in promoting its new electronic bill pay service.
Texans Credit Union has named James Richey as senior vice president, wholesale distribution.
Texans Credit Union finished its 2007 fundraising campaign for United Way with a $225,206 donation.
The Allen Temple C.M.E. Church will soon undergo renovations thanks to a commercial loan from Michigan First Credit Union.
Like many credit unions, the $94 million Summit Credit Union has had trouble getting any kind of turnout for those free on-premise financial literacy seminars, but now the CU found an economical solution: hold Webinars with online phone conferencing.
The account opening and funding tools from uMonitor are now being marketed in combination with risk-decisioning technology from Equifax.
Despite the large regulatory proposal on the table, it was not the only item on the NCUA's January board meeting agenda.
A group of western Michigan credit unions working under the umbrella of the Kalamazoo Chapter of the Michigan Credit Union League are receiving credit this month for a four-year fundraising venture that helped open the area's first neonatal hospital.
There were plenty of high fives and well wishes last week for Jeanine Miller, the retiring head teller at the $202 million Members CU here, who may have set a local mark for job longevity--44 years.
To introduce its new Web site, Ascend United, a broker of credit union debt, is giving away one 100 gram bar of .999 pure gold to one lucky credit union person who registers on its newly launched Web site www.ascendunited.com during the three-week period between Jan. 24 and Feb. 14.
Considered a first in Georgia, a proposed credit union that will market primarily to Hispanics, is moving closer to reality.
The "wave of the future" has arrived at PIMA Federal Credit Union, which is using a set of new marketing tools to help drive adoption of its Paytraxx bill-pay solution.
It is finally official--Anoka Hennepin Credit Union and Anoka County Federal Credit Union have merged.
A new technical report issued by World Council of Credit Unions finds that the mutual ownership and equal distribution of profits typical among financial cooperatives may make credit unions attractive for Islamic savers and borrowers.
1st Pacific Credit Union didn't have to look too far to find its new leader.
Desert Schools Federal Credit Union continues to hold the record as the top fundraiser for Children's Miracle Network in the nation, drawing in $340,000 in 2007--a $90,000 increase from a year ago.
In a vote of 259 to 38, the members of the Rite Aid Employees Credit Union voted to merge with Pennsylvania State Employees Credit Union.
One out of three Canadians is financially linked to a credit union but the numbers are not as strong when it comes to having their investment needs met. The January completion of a merger between Provincial Credit Union Centrals and Desjardins Group aims to change those numbers, however.
Open Solutions Inc. has announced its first major move into Mexico.
Representatives from Plano, Texas-based Southwest Corporate Federal Credit Union traveled to Belize last week to lay the foundation for an international partnership with the Belize Credit Union League.
NAFCU has called for nominations for its annual awards and added one designed to broaden the impact of its Professional of the Year Award.
Firestone Federal Credit Union President/CEO Jeff Rush is retiring effective Feb. 27, 2008.
Two significant forces of the ATM universe that partnered in late 2007 to provide CUs another surcharge-free ATM option have each reported significant milestones.
The $3 foreign fee imposed last summer by two big banks to recover their costs is coming under new credit union scrutiny following the move this month by a third big bank, JPMorgan/Chase, to quietly join the pack.
Using an offbeat but innovative pitch to attract the youth market via YouTube technology, the $1.5 billion Tinker Federal Credit Union last week launched a "make your own video" promotion and Web site contest with a financial education theme.
CO-OP Financial Services has announced the roll out of a complete suite of products to help CUs completely digitize their check acceptance and clearing.
The Filene Research Institute has issued a research report designed to review critical issues involving alternative capital for credit unions, including the lack of agreement about how and even whether CUs should raise it.
NCUA wants to start a conversation with the industry regarding how it can better protect credit union member interests under a broad range of circumstances, including so-called hostile mergers of one CU with another and possible mergers between credit unions and stock-issuing banks.
The Federal Open Market Committee cut the federal funds rate another half-point on Jan. 30, which will ease interest rates on consumer credit cards, home equity lines of credit, and auto loans, dropping it to 3.0% from 3.5%. The discount rate, what banks pay to borrow from the Fed, was...
As simplistic as it may sound, a member with a checking account may be the best indicator of a long-term relationship with a credit union.
Credit union technology veteran Knox M. Pitts II has retired after 21 years in leadership at $2.3 billion San Antonio Federal Credit Union.
Home Depot stores confirmed last week it is following the lead of Wal-Mart and withdrawing its application for an industrial loan company charter in Utah.
Military personnel around the world will now be able to listen on CUNA's weekly personal finance radio show, Home & Family Finance, through a partnership with the American Forces Network.
Group Health Credit Union has hired John Cruz Iglesias as its new president/CEO.
The FCUL Service Group, a wholly-owned subsidiary of the Florida Credit Union League, has recently signed a partnership agreement with St. Louis, Mo. design/build firm NewGround.
Prime Alliance Solutions has introduced a new mortgage marketing tool the company said will allow credit unions to increase market share while helping members whose financial welfare could be at risk.
In what has become a somewhat rare occurrence, a U.S. bank--which happens to be a former CU--had some of its depositors' money stolen in a direct hacking attack and has had to limit debit card use and re-issue cards, according to media reports.
Greylock Federal Credit Union has earned the Small Business Administration's top credit union lender ranking in Massachusetts for the third year in a row.
The Massachusetts Division of Banks recently recognized Leominster Credit Union for its community outreach efforts.
Over the past two years, 368 banks have stopped participating in the Small Business Administration's lending programs, the agency said.
NCUA recently announced that it has selected the $623 million Public Service Credit Union to take over what remains of Norlarco Credit Union.
Some grocery and supermarket employees have become eligible for credit union membership after the NCUA approved the first Trade, Industry or Profession field of membership for a grocery and supermarket industry across the U.S.
NCUA has sent a warning out to CUs to be on the lookout for criminals trying to tap their members home equity lines of credit.
The Financial Accounting Standards Board has given state chartered CUs more time to evaluate, estimate, and disclose their potential tax liabilities for unrelated business activities on their balance sheets.
DocuSign Inc. said its electronic signature service will now be incorporated into the products and services offered by Allied Solutions LLC.
Credit Union ONE is using the services of a California-based Web strategy firm for planning and design of its Web site at www.cuone.org.
Fiserv Inc. has named a financial services technology and investment veteran to its corporate board.
Fair Isaac Corp. will soon be offering a new decision tool kit for lenders that the company said will "provide deeper insight into the future debt sensitivity and default risk" of individuals and loan portfolios.
Corporate Central Credit Union said economies of scale have allowed it to reduce its image-deposit service prices for the third time.
Software Earnings, a provider of check and image processing solutions, is now offering credit unions a stand-alone remote cash-letter capture system for high-volume commercial accounts.
Akcelerant Software LLC now is offering its credit union and bank clients a combination of its workflow and business automation processing suite and the collection software of CU Recovery Inc.
BMI FCU here is celebrating the success of a mortgage program it started in the 1970's, said president/CEO Sharon Custer. And it's also proud that, like other credit unions, it didn't go astray into foolish lending and end up holding losses for which it could only blame itself.
GFA Federal Credit Union recently announced it is offering a reverse mortgages program--yet another home loan option to serve members' financial needs.
Los Angeles FCU here didn't need a Federal Reserve rate cut to offer a great deal on Home Equity line of Credit loans (HELOCs). LAFCU is featuring a 3.49% introductory rate for six months and a ten-year draw and still finds plenty of takers. With no points and no annual...
The below statistics on credit union mortgage lending show that the overall portfolio has grown but is held mostly in fixed-rate loans, balanced with other product categories.
A shaky stock market, a credit crunch, and a mortgage meltdown were the signals that led CUMAnet here (www.affinityfcu.org) to respond with a "Loan Health Check-Up" service for all member credit unions.
The year 2007 was different for everyone in the mortgage industry. Much has already been reported in the media, but there is probably a lot more that could have--and should have--been said.
The Filene Institute recently issued a report written by Dr. Robert Hoel which advocates alternative capital for natural person credit unions. While the potential benefits of alternative capital seem clear, the risks involved merit extensive and careful evaluation.
Everyone in the financial services sector is decrying about tight interest margins and some are experiencing increasing late payments and defaults, yet many credit unions are still handing out money like candy.
Credit union capital levels jumped markedly following the S&L crisis and have remained at record levels since the implementation of prompt corrective action in H.R. 1151.
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