Industry observers and executives with other processing companies predict that the recent supervisory letter on FIS security problems may have a limited impact on FIS’ sales but will likely heighten the importance of security for all payments processors.
Call Ed Speed, CEO of $1.8 billion Texas Dow Employees Credit Union in Lake Jackson, Texas, a maverick. That is a reputation he has won as he has pulled his institution out of credit union industry mainstays such as CUNA and the Texas league.
Many unanswered questions continued to swirl last week over the causes, fate and future course of the conserved $318 million Telesis Community Credit Union.
Like many of its peers, iQ Credit Union had grown overwhelmed in keeping up with the rapid pace and myriad regulatory changes.
With a year-long track record of strong portfolio performance, used car loans continue to rev up a turbo boost for many credit unions.
As House Committees investigate the General Services Administration Las Vegas conference scandal in Washington, the NCUA scaled back its annual examiner training conference in Orlando to a bare bones affair.
Streamlining the charter origination process, improving communication among interested parties and preparing credit union organizers better for the challenge of launching a credit union are all part of what the NCUA and outside groups say will be needed to shorten the amount of time it takes to charter a new,...
Credit unions have been taking creative approaches to delivering on members’ lifestyle needs. For example, Bellevue, Neb.-based SAC Federal Credit Union has unveiled its Baby Bundle Savings Plan.
CUNA Chief Economist Bill Hampel has responded to a Fitch Wire article critical of raising the credit union member business lending cap that read like it came straight off a banker lobbyist talking points list.
As credit unions wait with bated breath for a Senate vote on raising the MBL cap, the chamber will likely first address changes to the United States Postal Service that could impact credit union budgets and compliance.
Credit unions using creative, cost-effective and innovative campaigns to successfully market their credit and debit cards will be recognized by Card Services for Credit Unions at the association's annual conference this week.
As credit unions continue to seek out more ways to generate income, the Pennsylvania Credit Union Association is hoping a new partnership will offer another solution.
When the NCUA announced financial literacy requirements for board members more than a year ago, the mandate sparked a lot of anxiety prompting credit unions to seek out help and understanding of the new rules.
A lot of the scuttlebutt around the industry over the last couple of weeks has been about transparency and fiscal responsibility. Take for instance, the NCUA’s announcement that it’s cutting back on spending for its examiner education conference in Florida.
I'm writing in response to the letter, "CU's Fundamental Injustice" by Paul G. Merski, executive vice president, Independent Community Bankers of America, in April 11 issue.
A board of directors has the option to merge, convert or liquidate the credit union. The option to liquidate was proposed by Bill Brooks as a good option that allows members to realize their ownership interest in the credit union, [Guest Opinion: “Merger or Convert? Consider a Third Option,” April...
I read “The Trades: Near Death Reports Disputed” [page 1] in the March 21 issue and would like to comment.
I received the current CU times today and was horrified when I saw the front page picture that was related to Telesis Credit Union. [April 4 issue, page 1.]
Barely three years ago, an entire industry teetered on the brink of financial collapse as four corporate credit unions, US Central, Wescorp, Members United, and Southwest Corporate reported massive losses in their investment portfolios, losses that not only would eradicate their capital but threaten the uninsured shares and daily operations...
The recent thaw in state foreclosure actions has added to the millions of vacant, foreclosed properties already on the market. Since September 2008, mortgage companies and banks have foreclosed on 3.3 million homes and in just the last year, more than 860,000 have been lost to foreclosure–fully half in five...
I work with a lot of credit unions and their volunteer boards of directors. Volunteers can be an asset and a liability to any organization. When the role of the volunteer is clearly defined and followed, the volunteer has a better chance of benefiting the credit union. If the roles...
The former Rhode Island credit union, which converted to the $357 million Coastway Community Bank in 2009, is moving ahead with forming a mutual holding company, raising speculation it might eventually lead to a stock structure.
Dover Federal Credit Union recently announced that it has become the first credit union in Delaware to exceed $350 million in assets, closing out its books in March of this year with a total assets in excess of $363 million.
Jim Minge, president of the $726 million Texas Trust Credit Union, was elected to the board of directors of the Texas Credit Union League. He is one of 12 new board members who will take office April 18 upon conclusion of the league's annual meeting in Galveston.
NAFCU President/CEO Fred Becker last week announced David Carrier will be NAFCU’s new chief economist and director of research, effective April 30.
Financial experts and policy advisers serving nine European Union countries visited Clackamas Federal Credit Union as part of a multicity fact finding tour of U.S. financial markets. The delegation wanted to explore the differences between banks and credit unions and how credit unions navigated the global financial crisis.
Alaska USA Federal Credit Union has been recognized as the No. 1 lending institution in 2011 for the U.S. Small Business Administration’s 504 loan program by Evergreen Business Capital.
Rather than pass debit interchange savings from the Durbin Amendment on to consumers, gasoline retailers are pocketing the difference, according to the Electronic Payments Coalition.