Audits typically are prosaic matters, filed by accountants, read by accountants and swiftly forgotten. Not so the recent audit of NCUA’s Temporary Corporate Credit Union Stabilization Fund, announced by the agency on Dec. 27, a day when many are on vacation.
Regulatory burdens stemming from the Bank Secrecy Act, Dodd-Frank Act and the Department of Housing and Urban Development, among others, add another layer of responsibility to credit unions’ day-to-day operations. Complaints of rising compliance-related costs are common, but just how much is compliance costing CUs, and how are they paying...
Major mortgage lenders appear to be continuing their strategic retreat from the U.S. housing finance market, leaving credit unions with a significant opportunity that they may not be willing or able to take.
Mark the calendar: The NCUA aims to turn off the lights at the conserved U.S. Central Bridge no later than Dec. 31, 2012, and now it has announced the specifics of its plan.
Linda Reynolds, CEO of NAFCU Federal Credit Union of the Year for 2011, has been accused of fraud and misappropriation of funds.
In another effort to drive in more business, some auto lenders, including credit unions, may be more willing to be flexible with credit-challenged consumers.
Celebrity personal finance expert Suze Orman has launched a prepaid debit card that, if it becomes popular, could wind up costing credit unions significant amounts of money.
While it may not be much of a surprise to credit unions that some banks are not eager to approve funding for small businesses these days, the rate of rejections might cause some alarm.
So much to do, so many potential distractions. That’s the outlook facing Congress as it returns to work after its holiday break.
Legal fireworks continue to explode in the Los Angeles courtroom of Judge George H. Wu as the onetime top officers of WesCorp and the NCUA wrangle over the extent to which the regulator’s monitoring of the actions of WesCorp officials can be used as an excuse that saves them from...
In a move seemingly aimed at creating a payments CUSO large enough to compete with PSCU Financial Services, CO-OP Financial Services and the The Members Group have announced a cooperative marketing and product development partnership.
For all of the advantages advocate say it carries in building outreach, social media may not be the best way for financial advisers to build new relationships.
Credit unions could use a refresher course in the often-neglected area of online marketing and advertising content compliance. That’s the message from Kyle Woodmansee, the compliance specialist for Des Moines, Iowa-based consulting firm PolicyWorks, who will present an hour-long webinar, “Three Commonly Overlooked Website Compliance Issues,” on Jan. 26.
ARLINGTON, Va. — Despite an uncertain economy, aggressive regulators and myriad other challenges, there is a great deal for credit unions to be happy about, NAFCU President/CEO Fred Becker said at the Jan. 9 meeting of the Metropolitan Area Credit Union Management Association.
One of the nation’s first credit union volunteers to make a 2012 run for a major state office, Ovide Lamontagne, former chairman of the $726 million St. Mary’s Bank, Manchester, N.H., has some advice for CU leaders.
Callahan & Associates named Omaha businessman Sean Hession as the new president/CEO of the analytical services and data provider. And the firm said it is “transitioning ownership of the company to its management team.”
Year-round residents in Florida and some other warm weather destinations have mixed emotions when snowbirds, including many Canadians, return.
Fiserv, Inc. recently announced the results of a survey of the mobile banking and payment plans of top-tier financial institutions. The in-depth survey evaluated the plans of 10 banks and credit unions that in total hold more than a third of all U.S. deposit accounts.
CUNA is puffed up this month about a noteworthy achievement. Its online education series is now 10 years old and has reached what the trade group considers a noteworthy 104,000 self-study courses taught to CU staffers and directors across the U.S.
Every year new executives coming in and “more mature” ones retiring and it seemed like 2011 had more than its share. The turnover has plusses and minuses. Of course some credit unions could use the fresh blood while others are losing solid leaders. The industry must ensure a strong, fresh...
Mesirow Financial’s Investment Strategies has recertified CUNA Mutual Group’s retirement plan services as meeting industry and Employee Income Retirement Security Act standards.
Western Bridge members are being invited to a series of town hall meetings that Catalyst Corporate Federal Credit Union is planning in January and February.
Ronald Flaherty has been promoted from executive vice president and chief financial officer to president/CEO of the $172 million TEG Federal Credit Union in Poughkeepsie, N.Y.
Add Michael Ambrose, president/CEO of USAlliance Federal Credit Union, to the growing list of credit union leaders announcing their retirement.
JSC Federal Credit Union reached a 50-year milestone last month. During the months of November and December, the credit union offered promotions, events, and contests for its members in appreciation of their loyalty throughout the years.
Seven weeks after slapping it with a cease-and-desist order, the NCUA has placed Philadelphia’s People for People Community Development Credit Union into conservatorship.
Scott Waite, chief financial officer and senior vice president of Patelco Credit Union, will serve on a new advisory board at SaveDaily Inc., a mutual fund platform provider.
Michael Rosek has returned to the Midwest as the new president/CEO of the $74 million Rock Valley Credit Union in Loves Park, Ill.
TDECU Insurance Agency Inc. continues to grow.
Commonwealth Credit Union of Frankfort, Ky., has named financial veteran Karen C. Harbin as its president/CEO.
AFTRA-SAG Federal Credit Union is celebrating its 50th anniversary as well as seating a new president/CEO, Roger Runyan.
The Governor’s Council on Financial Literacy has recently recognized the efforts of the Wisconsin Credit Union League and UW Credit Union.
Transaction processor Lending Tools on Monday told Credit Union Times in an exclusive interview that it had signed a “significant” number of corporate credit unions to “binding agreements.”
As we begin the new year, most CEOs and C-suite executives are thinking about how to strengthen the leadership team and management to best execute on strategy. Some leaders may have the gene that inspires them to naturally keep learning about the world and how it will impact their credit...
President Obama was mad as hell and wasn’t going to take it anymore. Nuance, subtlety and appeals to reason weren’t cutting it. So when it came to trying to break gridlock on the confirmation of a director of the Consumer Financial Protection Bureau, Obama did it the old fashioned way: He...
The only certainty in 2012 is the uncertainty stemming from the financial challenges in the European Union, which are very likely to impact the U.S. banking system.
Credit card portfolios have had a rough go at things the past couple of years. Even with all the media attention on credit union credit cards in 2010, they grew just 2% that year. The previous five-year trend was an annual average growth rate of 10% to 12%.
Here is a list of credit union industry events for 2012.