Credit union mortgage organizations and trade associations are casting a wary eye on a proposed regulation meant to encourage issuers of mortgage-backed securities to use safer mortgages to back their bonds.
The $353 million First Financial Credit Union, headquartered in Albuquerque, N.M., hopes to find a buyer that can take a multimillion dollar mistake off its balance sheet.
WASHINGTON — Skeptics dominated a conference on the impact of a proposed cap on debit interchange that was held on the same day Federal Reserve Chairman Ben Bernanke informed Congress that the Fed will miss an April 21 deadline to announce the regulation's final version.
Backers of congressional efforts to delay implementation of the Federal Reserve’s rule regulating interchange were buoyed when Federal Reserve Chairman Ben Bernanke said the agency wouldn’t be able to release the rule by the April 21 deadline.
The Wall Street Journal dropped the bombshell: “Banks Hit for Credit Union Ills,” read the headline on an article reporting that the NCUA was in talks with a bevy of Wall Street powerhouses (Goldman Sachs, Merrill Lynch, Citigroup and JPMorgan Chase) about the NCUA’s belief that Wall Street banks sold...
Five months after the NCUA filed a complaint against a business lending CUSO with the liquidated Ensign Federal Credit Union, the regulator is going after real estate developers who allegedly defaulted on a nearly $2 million loan.
Guess again if you think a community charter or expanded field of membership guarantees overnight growth.
With gas prices continuing to climb, members who got caught in the big truck mania years ago are probably regretting their purchases as they shell out hundreds of dollars for fuel each week.
After hearing both sides, a Financial Industry Regulatory Authority panel recently denied all claims made by the estate that was seeking more than $2 million against an investment adviser that worked for a broker-dealer acquired by SECU Brokerage Services Inc.
Sallie Mae announced that it will begin offering no-fee student checking accounts into which colleges and universities can directly disburse financial aid and tuition refunds owed to students.
Around Valentine’s Day three years ago, holders of auction rate securities fell completely out of love with the debt instruments, causing a market freeze and a slew of lawsuits against the banks with claims of misrepresentation. The fallout continues.
With the exception of an impromptu clash over the credit union tax exemption, the Federal Reserve Bank information seminars that joined credit union and community bank CEOs finished the month with a wary but shared camaraderie.
It now looks like it could take until the third quarter for the Iowa Credit Union League, its processing affiliate and the National Cooperative Bank of Washington to finalize a plan to dissolve Iowa Corporate Central Credit Union and morph its correspondent services into the bank.
State league lobbying is undergoing more revamps this spring with advocacy schedules getting altered at two more leagues–Texas and California–to advance a more focused industry message to lawmakers.
The Ohio Credit Union League, pressing its emphasis on legislative advocacy, is undertaking a revamp of its annual meeting format to include a Columbus “Hike the Hill” at the yearly conclave.
Despite the back-office burden of handling thousands of pennies for a local charity drive, Terry Belcoe, president/CEO of the $137 million North Coast Credit Union in Bellingham, Wash., insists his CU is showing the way in demonstrating community commitment.
As the financial services industry has become more competitive, credit unions have been caught up in it. At times the cooperative spirit seems to be dying on the vine. Then something comes along and sparks your internal feel-good receptors for the cooperative, not-for-profit credit union spirit.
In 1985, when Dick Ensweiler’s son was 12, he became interested in baseball cards and started asking his father to drive him to card shows. That was the beginning of a lifelong hobby for the curremnt president/CEO of the Texas Credit Union League.
If you were one of the millions who visited New York City’s Times Square between Thanksgiving and New Year’s Day, you would have seen on one of the biggest billboards a public service announcement benefiting credit unions.
For advancement and future growth of the credit union movement, it is time we usher in a new era of collaboration and innovation among today’s young credit union professionals, CEOs and senior executives.
When I was first asked to pen this column, my first thought was, why would someone from Gen Y make a conscious, informed decision to join a credit union?
This past month, I was invited to deliver a leadership presentation to a group of international business students at Stony Brook University at the request of a business colleague I have known for over 25 years.
Identifying the year’s key trends and determining how to capitalize on them for the benefit of your members and your bottom line is always important. However, 2011 will be particularly pivotal within the residential mortgage market. There are three areas to watch closely.
First American Credit Union, Beloit, Wis., was one of 16 area businesses that participated in the second annual Reality Store, sponsored by the Greater Beloit Economic Development Corp.
Two California-based consulting firms, Shapiro Partners and Samaha Associates, which both serve credit unions in a variety of disciplines ranging from business development and e-commerce strategy to technology management and advocacy, have merged.
Wanting to help its members between the ages of 17-25 become more financially savvy, Pentagon Federal Credit Union and the PenFed Foundation have teamed up with MoneyU.
Xtend Inc., a Grand Rapids, Mich.-based CUSO, said it has signed three more users of its remote compliance monitoring service.
UW Credit Union has unveiled MoneyCoach to help its members get a better grasp on their finances.
For CUNA and NAFCU, conference attendance seems to be holding up this spring–particularly for volunteer events–despite the rise in airline fares.
The CUNA Marketing and Business Development Council has once again honored the best and the brightest in marketing during its 18th annual conference.
Credit unions have a large stake in the debate over how to reform the secondary mortgage market but may need exceptional patience and endurance to see it through to the end.
The new personal teller machines at the $1.9 billion Coastal Federal Credit Union have now transacted more than a million sessions, the Raleigh, N.C., credit union said.
Banc Intranets LLC of Johnson City, Tenn., said the $253 million Family Trust Federal Credit Union of Rock Hill, S.C., has agreed to use the company’s enterprise content management intranet.
A new automated account opening and loan origination platform has resulted in a 30% jump in new accounts at the $1.9 billion Keesler Federal Credit Union in Biloxi, Miss.
Online Resources Corp. and a Montana CUSO have entered into a re-seller agreement and plan to convert 11 credit unions this year to the Virginia company’s online banking and bill pay platform.
The 3,000 credit unions and banks on the Fiserv bill pay network can now offer a link for Discover cardholders to pay that bill through their financial institution’s online banking site.
Securing identities and other data and complying with regulations that make it law were among the hot topics fielded by the security and risk experts at Forrester Research in 2010, the think firm said in a new report.
An application for Android-powered smart phones has joined the iPhone and Web-based mobile offerings at the $688 million Firstmark Credit Union in San Antonio, Texas.
A new online banking home page that includes direct access to bill pay, account histories, transfers, a personal finance manager and a new member rewards program has been launched by the $1.3 billion South Carolina Federal Credit Union in North Charleston, S.C.
A new report said that the majority of the world’s retail banks have no plans to use social media in any way.
The 23,000 members of the $176 million Cabrillo Credit Union in San Diego can now sign loan documents online.