Credit unions that have restructured loans for struggling members no longer have to pay the price on their financial performance reports. That’s because a final rule released in May by the NCUA, which applied GAAP standards to the reporting of delinquent restructured residential mortgage loans, included a provision that released...
The financial crisis that ripped through most of the country during the past four years had left Iowa virtually unscathed. Earlier this summer, unemployment was relatively low, home prices were stable and farm incomes were on the rise. Iowa credit unions reported one of the nation’s highest return on...
Longtime farmers are all too familiar with the outcomes when a drought moves in and takes over, killing crops and livestock.
Money laundering and the steps financial institutions have to take to monitor it and prevent it are back in the news thanks to well-publicized missteps by banking giant HSBC.
NCUA Chairman Debbie Matz attended an Aug. 7 meeting in the White House’s Roosevelt Room in which President Barack Obama announced that low-income designated credit union lending would be included in the administration’s latest drought-relief package.
Executives from different parts of the credit union industry are hard at work to build credit unions’ share of the U.S. mortgage market even higher than the record 8% that credit union’s achieved in the first quarter of this year.
The Vermont clash over the words “bank” or “banking” widened last week as CUNA, two state leagues and credit union executives weighed in.
The Consumer Financial Protection Bureau released the final part of its new remittance rule Aug. 7, increasing the maximum number of annual transactions that qualify for safe harbor exemption to 100.
Credit unions might believe they’re doing all they can to target valuable demographic groups, but there’s one market that many are neglecting, said one consulting firm and its credit union clients. Hispanics are a rapidly growing market, according to Des Moines, Iowa-based firm Coopera Consulting. And they are hungry for...
As drought-stricken businesses across the country are in dire need of assistance, the Obama administration asked the regulators to find ways to provide aid. The NCUA responded by informing 1,003 credit unions of their eligibility for low-income designation and allowing them to opt-in rather than slogging through paperwork.
As an electrical engineer, Fred Fernandez never imagined when he was just lending a hand at Bethex Federal Credit Union that it would lead to a permanent career.
In Texas, it’s no secret that going big is the likely way to go in the Lone Star state.
Auto lending has traditionally been the backbone of many credit union lending operations. Some lenders have recently benefited from the Cash for Clunkers program and from the rebound in auto sales since the recession.
It’s Sunday, and I’m reading the newspapers and watching the talk shows, trying to digest the political commentary that consumes all of us. My perception and conclusion is that based on the content and the harsh tones, the environment in this country is filled with incredible toxicity.
In a recent nationwide survey of small businesses, nearly two-thirds said it has become significantly harder to get loans today than just a few years ago. Similarly, a National Federation of Independent Business survey found a nearly 10% increase in the number of small businesses trying to borrow but no...
I read with great interest Edward Speed’s Guest Opinion [July 18 issue, page 12]. I appreciate Speed sharing his thoughts about regulators, trade associations, CUSOs and business lending. We need to dialog about the issues we face so that collectively we can make the right decisions.
One of the things I remember growing up was the monthly newsletter my parents would receive from our congressman, the late Edward J. Derwinski. He would end each correspondence with the saying, “Remember, no one wielded a scepter more powerful than a person who picks up a pencil to write...
Randolph-Brooks Federal Credit Union, based in Live Oak, Texas, has increased membership rapidly during the past several years, culminating recently in a milestone.
Parkside Credit Union of Livonia, Mich., announced that Martin Carter will join the credit union as president and chief executive officer. Carter brings more than 30 years of credit union industry experience to this position.
The Smart Card Alliance, an industry group organized to promote wider use of cards enabled with computer chips, is starting a forum designed to facilitate the implementation of cards with chips in the U.S.
The NCUA has released a letter to credit unions and question-and-answer sheet regarding the new interest rate risk management rule, which takes effect Sept. 30, and posted it on the NCUA’s website.
NCUA Board Chairman Debbie Matz last week announced the appointment of JeanMarie Komyathy as director of risk management in the Office of Examination and Insurance. Komyathy assumes her new duties September 3.
Promotions, Hirings, Anniversaries