Among the 20-plus organizations served by Choices Federal Credit Union is a group of small business development centers.
The 177,000-member, $1.4 billion GTE Federal Credit Union faces a $51,000 fee from Fannie Mae because it only used foreclosure attorneys the government-backed mortgage giant approved and ordered it to use.
In a case of breach of contract, a judge has awarded a real estate developer $75.4 million judgment against Delta Community Credit Union.
Two major credit union cases involving business loan fraud made news over the past week.
Saying that credit unions and small banks “had very little, really nothing to do with causing the financial crisis,” Consumer Financial Protection Bureau Director Richard Cordray renewed his commitment to ensure that they don’t face unnecessary additional regulatory burdens.
California’s $3.1 billion Kinecta Federal Credit Union, party to a delayed mega-merger with the $1.1 billion NuVision CU, is in recovery mode this month, tending to a battered mortgage portfolio.
NAFCU has asked that the NCUA stop using material from financial advice guru Suze Orman after she launched a decoupled debit card program that could hurt credit unions.
It’s rare that a novice credit union member signs up for his or her CU’s credit card right off the bat. The first account is usually a savings or share account, often followed by a checking account for the debit card. Sometimes if there is an indirect lending program, new...
Credit unions expecting to profit markedly and gain many new accounts from Bank Transfer Day fallout and Occupy protests will need to drastically step up their technology game, according to a California research firm.
The Credit Union Executives Society started in 1962 as a CUNA department known as the CUES (which at the time stood for Credit Union Executive Services) Managers Society. Now in its 50th year, the organization is the go-to resource for credit union leaders. CUES’ wealth of services includes educational programs,...
Credit unions lost $1.4 billion in overdraft revenue in 2011 due to a bank-initiated overdraft price increase and the increasing popularity of alternative short-term loans, according to a new study from Lake Bluff, Ill.-based research firm Moebs Services.
In 2012, Bruce Foulke, the president/CEO of the $1.1 billion American Heritage Federal Credit Union of Philadelphia, ranks among the CU doers, or is, as the World Council of Credit Unions puts it, “a special breed” when it comes to overseas charity work.
Changes that began to surface in the wealth management realm in 2008 are expected to be realized this year.
As credit unions continue their Gen Y outreach efforts, they may want to take a closer look at the Hispanic market.
While the degree of optimism varies, a sampling of perspectives from business lending CUSOs suggests an economic upturn may be underway.
The examination process at the NCUA went on trial last week. Not before a court but before Congress, though it could end up in court, too, if legislation in Congress makes it through to law. The Financial Institution Examination Fairness and Reform Act (H.R. 3461) would create an ombudsman within...
I was very happy to see both Chip Filson and Jim Blaine support the release of CAMEL ratings (CU Times, Jan. 25, page 1).
I think that Newt Gingrich may be right about credit unions being government-sponsored enterprises. Consultant Dennis Dollar and others have criticized the presidential candidate and former speaker of the House for describing credit unions as GSEs.
At 80 million strong, Gen Y will soon control the nation’s wealth, posing a mammoth opportunity for credit unions. Born during the early 1980s and the late 1990s, the group is more than three times the size of Generation X and exerts major influence on American culture.
It seems credit unions are doing all they can in their quest to build younger membership by introducing new products and services. But research still points to an overall industry struggle in the Gen Y market.
Slowly and surely, trickles of deals are getting financed. Markets, as we all know, are cyclical, with some bubbles, booms, and busts.
With a $10,000 grand prize presented by MasterCard at stake, three finalists have been named for the second annual CO-OP THINK Prize, created in 2010 to inspire innovative solutions to the issues confronting the credit union industry.
A federal grand jury recently indicted Lee Baker Jr., a prominent real estate developer, for alleged fraud for making false statements to obtain loans from Denali Alaskan Federal Credit Union.
The World Council of Credit Unions has issued a call for Distinguished Service Award nominations. Award recipients will be recognized at the World Credit Union Conference, July 15–18 in Gdansk, Poland.
Silver State Schools Credit Union lost its position as Nevada’s largest credit union last year, along with $8.4 million. The troubled Las Vegas credit union said it posted a net loss of $2.8 million in the fourth quarter, and finished the year with a net loss of $8.4 million, but said...
Credit Union of Colorado has launched a new foundation to build upon the organization’s history of philanthropic commitment to its members and the communities where they reside. The new Credit Union of Colorado Foundation will focus on two areas of interest, human services and education.
The Prime Performance 2011 California bank and credit union survey has ranked The Golden 1 Credit Union the top financial institution in several categories, including overall customer experience. The survey distinguishes Golden 1 as a top performer in customer service and satisfaction.
Lee Butke, president/CEO of Corporate One FCU in Columbus, Ohio, has joined the board of directors of the National Credit Union Foundation. Butke joined the board at NCUF’s board meeting on Jan. 24 in Scottsdale, Ariz., and is the new Association of Corporate Credit Unions representative on the board.
The 6,800-member Eastern New York Federal Credit Union in Napanoch, N.Y., was liquidated by the NCUA on Jan. 27.