Credit Union Times Magazine August 14, 2013
Mark Fetcher doesn’t care why New London Security Federal Credit Union failed back in 2008.
Vincas Urbaitis, a former board director of the now-shuttered Taupa Lithuanian Credit Union, said he has been doing a lot of thinking lately about how he and six board members were double-crossed by Alex R. Spirikaitis, their former CEO.
Front Page News
Credit union CEOs who manage more than $250 million in assets earn more in base salary and total compensation than their banking counterparts do, according to the 2013 CUES Executive Compensation Survey, released Aug. 2.
Whether or not the Federal Reserve can or will appeal the July 31 court decision that overturned two-thirds of its debit interchange regulation hinges on several unresolved legal questions.
An innovative housing finance company is poised to introduce a new approach to mortgage lending, just when mortgage finance reform has put the future of the 30-year fixed rate mortgage in doubt.
Last month, the $780 million 3Rivers Federal Credit Union of Fort Wayne, Ind., became the nation’s first credit union to launch Picture Pay.
The 119,000-member, $1.8 billion Navy Army Community Credit Union has a problem: its members love the credit union too much. Or at least they love its branches.
Some veteran board members quip they can remember the days when their biggest challenge was choosing the color for the carpet at the newest branch.
President Barack Obama laid out his initiative to reform the secondary mortgage market in a speech on Aug. 6 that trash talked Fannie Mae and Freddie Mac and voiced support for a Senate bill that would wind down the government sponsored enterprises and replace them with a mostly privatized system.
Just because some founders of the Occupy Wall Street group have decided to launch a financial coop- erative that is not a credit union, doesn’t mean they are against the idea.
Be careful when you complain about something at work, because it just might become your new job.
In talking with other volunteers in the credit union industry, I find it interesting that we almost always face the same major issues.
To excel in today’s competitive environment, boards must be willing to make bold decisions. However, bold decisions can be risky, particularly for directors worried about protecting their personal assets. Directors should feel comfortable being decisive without the threat of litigation hanging over their heads.
More than 10 years after it opened its doors for business, BECU Trust Co., has entered a new phase.
A lawsuit that challenged the authority of Dodd-Frank to regulate the financial services industry was dismissed Aug. 1 in Washington, D.C. in U.S. District Court.
While they may lack confidence in their overall financial knowledge, the CUNA Women’s Financial Survey released Aug. 6 said saving for retirement is their No. 1 financial priority.
The $776 million St. Mary’s Bank of Manchester, N.H. appointed Pamela Ordway vice president, loan operations manager. Ordway will be responsible for the direct workflow of residential and consumer loan operations, including processing, underwriting, closing, post-closing, and the secondary market portfolio. She served as vice president, processing and underwriting, at...
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