The NCUA has asked credit unions that process their debit and credit card transactions with FIS to evaluate their relationship with the card processor in light of an information technology supervisory letter the company has received from other federal financial regulators.
Go big or go home. Those five words outline exactly what is happening with the proposed merger of $1.8 billion Warrenville, Ill.-based Alloya with $1.5 billion Southfield. Mich.-based CenCorp. It’s a marriage of corporate credit unions that, if approved by CenCorp members and regulators, will produce an entity with assets...
The merger game – its timing, procedures and practices – is coming in for new scrutiny and debate this month among a coterie of analysts and top credit union CEOs.
Credit unions may find themselves increasingly playing the role of landlord, according to a recent Federal Reserve policy statement and a property management firm that serves credit unions.
For some credit unions, being able to get in a car and drive to a piece of commercial real estate that a member is trying to secure financing for is a pivotal part of the lending process. Scoping out the area where that strip mall or office building is located...
Credit unions and community banks have traditionally stood as direct competitors, vying for the attention of similar types of consumers. But in the private student lending market, a fierce face-off between the two is not expected, several experts say.
Summit Credit Union members have got oodles to be thrilled about. With an eye on reinforcing its value to its members and the communities served, the Madison, Wis.-based credit union has launched Oodles, a membership rewards program.
Has your credit union invested in and nurtured the next generation of entrepreneurs? Operation HOPE and Gallup have joined forces to gauge young consumers’ attitudes about entrepreneurship and financial literacy as a way to help gain insight into how they envision their economic future.
Former credit union lobbyist Marvin Umholtz said the industry shouldn’t fear a new banker super PAC, saying the Friends of Traditional Banking PAC, will function “more like a scalpel than a battle axe.”
The industry push to promote improved savings behavior among consumers while also drawing new business was ratcheted up with a pilot initiative involving 20 credit unions and sponsored by Filene Research Institute and SaveUp, a fledgling San Francisco firm.
The Consumer Financial Protection Bureau’s proposed remittance regulations could force credit unions to stop providing the service, said CUNA and NAFCU in letters submitted to CFPB Executive Secretary Monica Jackson.
The $1.3 billion Premier America Credit Union has contracted with the NCUA to manage the assets of the seized $318 million Telesis Community Credit Union. Both credit unions are based in Chatsworth, Calif.
Russ Plunkett, president/CEO of Postal Credit Union, Woodbury, Minn., has been inducted into the 2012 Credit Union House Hall of Leaders. Plunkett was among 13 credit union leaders honored by Credit Union House LLC at its annual meeting last month in Washington, D.C.
As Interra Credit Union celebrates its 80th anniversary this year, it also celebrates an 80-year member, Harriet Kruse, the longest tenured living member. In many ways, the credit union and Harriet have grown up together.
Leominster Credit Union announced that Gordon R. Edmonds, president/CEO, will retire on Sept. 30. Edmonds joined Leominster Credit Union in 2001 as senior vice president of lending. He was appointed president/CEO in June 2007.
A few weeks after its merger plans were scuttled, the $3.1 billion Kinecta Federal Credit Union in Manhattan Beach, Calif., has named Keith Sultemeier as its president/CEO.
Lawyers for Wachovia Capital Markets filed documents in Kansas City Federal Court asking the court to dismiss NCUA’s securities fraud case against the firm now owned by Wells Fargo. Central to Wachovia’s argument is a question that has haunted the NCUA ever since the collapse of U.S. Central FCU: Why...
The trades last week came out against principal forgiveness, an idea floated by Federal Housing Finance Agency Director Edward DeMarco. Political observers, however, noted that he has long been opposed to debt forgiveness and may be simply responding to consistent pressure from the Democratic Party.
Fostering connections, whether among young professionals, college students, fellow staffers or members has been what drives Lisa Totaro, marketing associate at Sunmark Federal Credit Union.
In my opinion, one of the great differentiators for credit unions is access. On the surface, most folks in our communities probably would not agree with this. After all, doesn’t a person have to belong to something or work somewhere special to be a part of a credit union? Whether...
Over the past several years, confusion has grown concerning acceptable and proper methods and techniques for credit union member business loan classification and risk ratings. This dilemma surprises no one as the credit union industry has not established a uniform system for business loan classification and risk ratings.
Ever think about how tough it must’ve been to catch criminals in the Wild West, relying just on wanted posters and word of mouth?
With the number of members who have opted not to conduct transactions with paper checks continuing to grow, St. Cloud Federal Credit Union knew it was time to make a change.
The $24 billion State Employees’ Credit Union is not waiting around for the widespread of adoption of chip and pin cards.
Lose a few million dollars on a wire transfer to Toledo, Ohio, and procedures are in place to get it back in may instances. But when that transfer is to Kiev, kiss the money goodbye.