With the July 1 Reg E deadline already come and gone and the Aug. 15 deadline fast approaching, one analyst said financial institutions are recouping lost noninterest income by lowering deposit rates.
ALEXANDRIA, Va. -- Federally insured credit unions that are insolvent, in conservatorship or have ratings of CAMEL 4 and 5 would be prohibited from offering golden parachutes to their executives under a proposed rule.
Joe and Jane Consumer may be overwhelmed with what the recently enacted legislation aimed at overhauling financial services means in their day-to-day lives. But advocates say the changes are really in their best interest.
Many bank card issuers have abandoned practices viewed as unfriendly to consumers, according to a consumer watchdog group that has long been critical of card issuing practices.
The $808 million Arrowhead Central Credit Union's June 30 call reports, released by the NCUA July 22, show a $1.45 million net loss, primarily due to an increase in loan-loss provisioning from $6 million as of March 31 to nearly $19 million.
Since meeting with credit unions and banking groups in North Carolina a year and a half ago, microlending bank Grameen America Inc. has pulled back but not abandoned the idea of pursuing a credit union charter.
Tom Glatt, president/CEO of REALTORS Federal Credit Union, announced he is scheduled to leave his post Aug. 1 after nearly two years at the helm.
ARLINGTON, Va. -- The credit union model is not sustainable without access to supplemental capital and more ability to make business loans, Co-Op Financial Services President/CEO Stan Hollen told a group of credit union executives.
Almost all entrepreneurs face challenges obtaining or retaining financing. But the obstacles Jill Lamoureux faces trying to get access to even the most basic financial services have been particularly daunting.
Another bank that began life as a credit union has announced its plans to make an initial public offering of stock in the next few months.
Despite the ongoing economic recession, a credit union created card aimed at higher end consumers has found its niche and is making money, according to its CU creator and issuer.
Visa Inc. has recognized Fifth Third Processing Solutions for its efficiency in card transaction processing.
Given the economic climate over the last two to three years, a number of credit unions have had to seriously consider laying off employees, and some have actually done so. But for many credit unions, layoffs are a last resort.
The eight chapters of the Missouri Credit Union Association are doing a takeoff on the TV reality show "America's Got Talent" with a home-grown version this fall called, "Credit Unions Got Talent."
The $8.15 billion Members United Corporate FCU and $3 billion Southeast Corporate FCU are both covering new OTTIs with existing retained earnings, the credit unions announced in separate releases July 26.
Executive Compensation Solutions has issued a call to participants for its 2010 employee and executive compensation and benefits survey.
Navy Federal Credit Union and Gulf Winds Federal Credit Union have been playing important roles in the BP oil spill restoration.
Pacific Service Credit Union sponsored the 19th Annual Rubber Ducky Derby on Aug. 1 to benefit the Children's Hospital Oakland, which provides medical care to 170,000 children each year. The annual derby raised more than $1.3 million for the hospital.
Mobile banking adoption among U.S. consumers has nearly doubled in the past 18 months, driven by the attractive convenience of basic, everyday functionality, according to a new report from Forrester Research.
John Goff, senior vice president of the $1.8 billion Keesler Federal Credit Union of Biloxi, Miss., is the credit union's new president/CEO.
Credit union officials in Texas and Brazil aim to beef up their strategies for serving agricultural members as part of World Council of Credit Unions' partnership program.
The Pennsylvania Credit Union Association has formally added its voice to the industry chorus complaining about the NCUA assessment schedule urging the agency to use its legal discretionary power to spread out the expense.
Total savings for responding credit unions reached more than $1.1 trillion, according to World Council of Credit Unions' newly released 2009 Statistical Report. That's the highest level since WOCCU first began conducting the survey in 1972.
Members of the $3.3 billion Southeast Corporate FCU, the $1.6 billion VACORP FCU and the $2.4 billion Georgia Central CU, joint members of CUSO Corporate Synergies, are mid-way through an upgrade to the CUSO's Member$MART online application.
The Washington and Oregon credit union leagues, preparing for a merger this November, scheduled a series of town hall meetings in August and September to provide member input on the consolidation plan.
Taking advantage of Huffington Post accolades of the industry, the $1.1 billion Westerra Credit Union of Denver is preparing more of its "Move Your Money Local" ad series this fall.
In light of the increased popularity of reverse mortgages, credit unions should be especially vigilant in trying to stop fraudulent practices and help the Financial Crimes Enforcement Network's efforts.
NAFCU President/CEO Fred Becker urged Treasury Secretary Timothy Geithner to allow the greatest amount of transition before he transfers responsibilities for consumer the Consumer Financial Protection Bureau.
Because of the risks to safety and soundness caused by some energy efficiency loans, credit unions should make "appropriate adjustments," to their underwriting criteria and collateral monitoring practices.
The Federal Reserve should exercise flexibility, not make decisions in isolation and consider the costs that credit unions incur when running card programs.
WesCorp wanted to enter the mobile banking market for credit unions but knew it needed something to help it stand out in that crowded space. So it went to the core of the matter. Or, in this case, the core processing system.
The Restoring American Financial Stability Act passed the Senate on July 15 and was signed into law by President Obama on July 21.
Strategic thinking and planning has always been important to a business' success. Now, perhaps more than any time in most of our lifetimes, it is crucial. There's been a lot more talk about it since the financial crisis.
One of the biggest characteristics preached when it comes to Gen Y is how we like convenience.
In response to Sarah Snell Cooke's column in the June 23 issue ("Mutual Respect for Mutual Survival"), Cooke seems to opine that the problems at the NCUA are at the examiner level. I believe the examiner is merely the symptom and not the cause.
Almost every day, credit union representatives ask me to keep the NCUA's assessments low.
I have the privilege of helping credit unions with their business continuity planning, doing plan reviews, facilitating exercises, conducting business impact analyses, rewriting plans and educating staff and boards.
CHICAGO -- The NCUA won't allow the NCUSIF's equity ratio to fall below 1.2% for long because doing so would be "irresponsible," NCUA Chairman Debbie Matz said at a luncheon address at NAFCU's Annual Conference.
CHICAGO -- Don't take wild risks in business lending but be aggressive in serving your members and trying to bolster your credit union's bottom line.
CHICAGO -- There probably won't be a double dip during the recovery but the probability of one has increased because of the slow rate of increase in job growth and in GDP.
First Capital Federal Credit Union, York, Pa., announced the hiring of Stanley Moore as the vice president of information technology.
A sentence in the Editor's Column in the July 28 issue was missing a word. It should have read: "Whether Gaymon received just treatment or not from the officer, that right should not be violated on behalf of the officer."
Georgia Federal Credit Union, Duluth, Ga., announced the winners for its 2010 John F. Donoghue Catholic scholarships, created in honor of the archbishop who petitioned to add credit union benefits to members of the Archdiocese of Atlanta.