ALEXANDRIA, Va. — The NCUA giveth and the NCUA taketh away. At its Dec. 15 meeting the agency’s board proposed placing more restrictions on loan participations while granting credit unions greater flexibility in other areas.
Bonus dividend payouts are a true differentiator for credit unions as they compete against banks, and in a year when big banks made headlines for proposing unwanted fees, year-end member cash rewards carry even more weight for CUs looking to stand out in the marketplace.
The email from the NCUA to current Western Bridge members summed it up. “The National Credit Union Administration Board awarded Catalyst Corporate Federal Credit Union (Catalyst) the exclusive right to acquire Western Bridge Corporate Federal Credit Union (Western Bridge).”
A federal judge has dismissed most of the complaints financial institutions, including credit unions, brought against Heartland Payment Systems for its January 2009 card data breach.
In the ongoing pursuit to recover alleged mismanaged funds, another lawsuit tied to the collapse of New London Security Federal Credit Union has been dismissed.
The Tampa Bay market in Florida is such prime territory for MIDFLORIDA Credit Union that the cooperative is on a mission to build its presence there.
In a landmark ruling, the FDIC last week gave approval to a credit union-bank deal by which the $1.3 billion United Federal Credit Union of St. Joseph, Mich., can buy the ailing the $80 million Griffith Savings Bank of Indiana, according to attorneys representing UFCU.
After experiencing a slight dip in 2010, credit unions are leading the pack when it comes to customer satisfaction, according to the American Customer Satisfaction Index.
I know what I’m talking about at least half the time: my 2011 predictions were hit and miss. Like any other industry observer, they’re all educated guesses, and we’re even asked to speak about what we foresee. As the late Red Skelton is often credited with saying, “Give the people...
As a believer in lifelong learning, it’s no wonder Kathryn Davis relishes the diversity her role as senior vice president at Xceed Financial Credit Union provides.
At the behest of New York Gov. Andrew Cuomo, the state’s top regulator is openly encouraging more federal credit unions to convert to a state charter.
The 220,000-member, $5.4 million San Diego County Credit Union reported that a debit card promotion tied to Bank Transfer Day wound up doubling the number of accounts the CU usually opens.
The $15.1 billion Pentagon Federal Credit Union and the Marine Corps League have announced that the former is now the latter’s exclusive, preferred financial services affinity partner.
Corporate Central Credit Union announced that Gerald Forsythe has retired as board chairman and from his post as CEO of the $843 million Altra Federal Credit Union of La Crosse, Wis.
More than 650 people have shared 500 answers and viewed pages more than 13,000 times in the first year of a social collaboration portal for clients of Passageways LLC, the company says.
Engaging consumers where they are now and in the future will be key topics at NAFCU’s 2012 Technology and Security Conference set for Feb. 14-16 at the MGM Grand in Las Vegas.
A failed attempt to charge a monthly debit usage fee contributed to Bank of America being ranked last in a customer satisfaction index.
Winston Churchill once said that “a lie gets halfway around the world before the truth has a chance to get its pants on.”
Credit unions have always been known for a keen awareness of the unique needs of their members.
Maybe credit unions should avoid words that begin with D. The industry has worked to increase its clout in Washington and made some progress.
The recent Bank Transfer Day was a watershed moment for the credit union industry. While some observers might attribute it to serendipity, it was no overnight success story.
It started simply enough. Bank of America announced, and later reversed, a decision to charge debit card users a $5 fee.
For the past few years, advocates have continued to push for increasing the member business lending cap, and 2011 saw more of the same efforts.
The temperature this summer may have gone up a few more notches in credit union land when the NCUA announced a proposal that would bring several amendments to the CUSO rule.
This year saw a regulation capping the interchange card issuers were able to earn on a debit card transaction come into effect for the first time in history.
Volunteer training, dealing with growing compliance demands and staying profitable enough to stay alive.
And then there were 16. That is the current count of corporate credit unions, after a year where all the institutions faced an Oct. 20 NCUA deadline to qualify as “adequately capitalized” per the regulator’s calculus.
Credit unions worked hard in 2011 to continue to build their housing finance programs even as the overall housing industry continued to struggle with low home prices, high foreclosure rates and significantly tighter mortgage underwriting rules.
The House Banking Committee focused on oversight and trying to undo or modify some of President Obama’s initiatives while the Senate Banking Committee focused on less sweeping efforts in 2011.
If credit unions were looking for a lending panacea in 2011, it was nowhere to be found. It wasn’t for a lack of money to lend because many cooperatives were awash in funds, economists said over the course of the year.