After years of steadily holding back support for embedding smart chips into U.S. issued cards, the largest card brand has announced it will now back the use of smart card technology in the U.S.
If more credit unions leave the NCUSIF, can the NCUA take steps to minimize the impact on those that remain?
As the markets continue to roil in the aftermath of the country’s credit rating downgrade, members are likely seeking safe havens for their investment choices.
Oregon and Washington credit unions were reminded last week of something they know full well: the S&P downgrade of the nation’s credit rating and the market turmoil could bring in a substantial deposit influx at a time loan demand remains tepid.
Wisconsin, fast becoming the nation’s battleground for credit union-bank clashes over the tax exemption and CU to bank conversions, erupted anew last week with dueling press releases following a fresh appeal from the banking lobby to Congress tied to the debt crisis.
The NCUA sued investment bank Goldman Sachs last week, seeking damages of more than $491 million and alleging misrepresentations by the firm when selling mortgage-backed securities to U.S Central and Western Corporate credit unions.
Law firms seeking relatively easy settlements have helped fuel the numbers of lawsuits against both credit unions and community banks over alleged failures to comply with ATM regulations.
Credit unions whose membership includes significant numbers of Federal Aviation Administration employees rolled out lower cost loans, fee reductions and other measures as an ongoing legislative dispute left the workers without paychecks.
American Airlines Federal Credit Union of Fort Worth, Texas has agreed to pay nearly 300 current and former employees more than $83,000 in overtime back wages following a U.S. Department of Labor investigation.
Four state leagues–California, Texas, Georgia and Ohio–have organized a new Dallas firm, CU Partner Link, to develop new state-of-the-art products and services for member CUs concerned over lost income.
Since the finalization of the Durbin amendment, many credit unions have been considering how they will compensate for lost interchange revenue with other forms of noninterest income.
Every now and again it’s interesting to study the statistics of the credit union industry. Some we find merely satisfy an idle curiosity, while others can have far more serious implications.
If Bryce Roth, marketing coordinator at Vacationland Federal Credit Union, has his way, credit unions will go from being the best kept secret to the go-to consumer resource.
So Washington (and credit unions) survived the debt ceiling and budget cutting crisis relatively unscathed.
Recently, I attended the 34th annual National Director’s Convention in Las Vegas as a speaker on the topic of “Relentless Strategic Leadership to Ensure Member Value. ” The sessions were attended by both directors and CEOs. The topic most commonly asked in both sessions were concerns about toxic board members,...
The U.S. interchange battle between merchants and issuers is coming to a close now that the Durbin Amendment has been interpreted by the Federal Reserve Bank.
Regarding “Reports of the Death of Small Credit Unions Are Greatly Exaggerated,” cutimes.com, July 21. I agree with Mike Schenk that the death of small credit unions is exaggerated. Whenever you are talking about such a large group (there are over 6,000 credit unions with under $100 million in assets),...
Please read the CUNA Mutual Group’s reorganization material closely.
Add Tim Kramer, president/CEO of KeyPoint Credit Union to the growing list of credit union leaders shifting into retirement.
The Yuma, Ariz.-based, $229 million AEA FCU faces millions of dollars in bad loans and a relatively poor net worth ratio, according to its most recent Call Report from the NCUA.
Hawaii First Federal Credit Union has teamed up with the Office for Hawaiian Affairs to help fuel economic empowerment among locals.
Coastal Federal Credit Union has named Brad Miller chief financial officer.
A major provider of overdraft programs to credit unions is suing Fiserv Inc. for $10 million, claiming the big technology company violated a promotional and noncompetition agreement between the two.
Oct. 11 has been set as the date for the $72 million South Bay Credit Union in Redondo Beach, Calif., to convert to the CU*BASE core processing platform through CU*Northwest of Spokane, Wash.
When looking at delinquencies, credit unions still have some of the lowest rates even among the worst performing business lending portfolios.
Congressional Federal Credit Union is mourning the death of former Board Chairman and U.S. House of Representatives Doorkeeper James T. Molloy.
A technology service subsidiary of the Maine Credit Union League said it has expanded its relationship with the credit union core processing arm of Jack Henry & Associates.
The $75 million Texas Tech FCU said it hopes to triple its mortgage production over the next several months with the help of an automated mortgage document preparation system from MRG Document Technologies in Dallas.
More than 10 million new pieces of malware were recorded in the second half of 2010 by one of the companies participating in the international reporting efforts of the APWG.
Xtend Inc. said two more credit unions have bought stock and become co-owners of the Grand Rapids, Mich., provider of operational, marketing, shared branching and consulting services to more than 140 credit unions.
Thirty-two organizations have signed on as users of portal solutions from Passageways LLC so far this year, including 12 new portal customers in June, the best first half showing since it was created as a CUSO of Purdue FCU (then Purdue Employees FCU) in 2003, the company said.
The $2.8 billion Desert Schools FCU in Phoenix plans to begin using this fall a new voice biometrics solution from Finivation Software of New York City.