The year was 1969 and in a move to help credit unions meet more of the needs of their members, the South Carolina Credit Union League invested $45,000 to start a new subsidiary to make it happen.
Credit union chief financial officers are being asked to provide more reporting and education these days, often to the point that it gets in the way of their ability to actively manage their positions.
Financial institutions should make frequent use of stress tests and have well-established risk measuring and monitoring systems to guard against the risks caused by rising interest rates.
At least nine credit unions were subject to a mobile phone phishing attack that sought to lure credit union members into giving up their financial information to fraudsters.
Congress has placed financial service providers on the defensive during the past four years. But with an election scheduled for this year, the political pressures will be even greater.
When a bank in Indiana known for its robust business lending program was bought by a larger competitor in 2008, it left many local firms scrambling for other financing alternatives.
Negotiations were reportedly continuing in secret last week between the Nevada Financial Institutions Division, American Share Insurance Corp. and the troubled $883 million Silver State Credit Union.
The credit union broker dealer and investment firm CUSO Financial Services LP has rolled out ActivePassive Portfolios, a new offering involving index and actively managed funds.
Silver Peak Systems said it has provided Patriot Federal Credit Union with a solution that aims to improve disaster recovery procedures through real-time data replication and centralized backups.
The end of 2009 saw PSCU Financial Services reaching a number of financial milestones.
Two new hires recently came aboard at CO-OP Financial Services.
The $799 million Unitus Community Credit Union has linked up with Smartway Advisors to help high-risk members get deals on auto loans and interest rates.
Since its founding in 1955, most of Ohio University Credit Union's growth has sprouted up through its original sponsor, a connection that germinates to this day.
With investment and partnerships in nearly a handful of CUSOs, UMassFive College Federal Credit Union can safely say it knows the power behind collaboration.
Statistically, the attributes that are the strongest drivers of loyalty among credit union members are quality service, a belief that the credit union delivers value and ease of conducting business.
Through ads, Internet postings and public statements, credit unions nationwide were enjoying the public rant against big banks last week highlighted in congressional hearings and in myriad network and cable TV news shows
In North Carolina last week, the emphasis on "jobs, jobs, jobs," grew more intense as credit unions and small business owners came together to express their urgency.
The Invest in America program has added two new benefit partners and released 2009 numbers that CUcorp CEO David Adams said make him optimistic about the program in 2010.
ARLINGTON, Va. -- In the prelude to the most recent crisis facing corporate credit unions, everybody messed up some.
The $73 million Self Help Federal Credit Union, the California-based credit union that is an affiliate of the $350 million Self Help Credit Union in North Carolina has gotten a bit bigger.
Once majority-owned by CUNA Mutual Group, the acquisition of CUMIS Group Ltd. was completed on Dec. 31, the company's buyers Canada-based Central 1 Credit Union and Co-Operators Life Insurance Co. said.
There has been a lot to celebrate at Latino Community Credit Union.
The latest, shiniest innovation can be all the rage among credit unions, but the proof ultimately lies in actual member usage.
The Hispanic Chamber of Commerce of Marin has presented Redwood Credit Union its outstanding business diversity award.
CUNA and Coopera Consulting, a subsidiary of the Iowa Credit Union League, have joined forces to help credit unions reach out and better connect with first- and second-generation Hispanic Americans.
State Employees' Credit Union is showing its support to the North Carolina Museum of Natural Sciences.
Vons Credit Union is looking to lead the green movement in El Monte, Calif., by example.
The $841 million SELCO Community Credit Union of Eugene, Ore. expects to be an Oregon trendsetter by opening its first full-service Walmart branch.
The latest NAFCU Macro Data Flash Report on vehicle sales showed that while sales continued on an upward trend through the end of 2009 the auto industry still faces a long battle to return to prerecession numbers.
Member Business Solutions LLC recently marked a milestone as it passed the $1 billion mark in underwritten loans.
The credit union owners of core data processing CUSO CU*Answers will receive their share of a $700,000 dividend.
CUNA has narrowed the field and selected its national 2009 Dora Maxwell Social Responsibility and Louise Herring Philosophy in Action award winners.
Technology Credit Union has found a new leader to usher in the new year.
NW Preferred Federal Credit Union has found its new leader within its walls.
Longtime credit union industry veteran Steve Lumm has been tapped to serve as interim president/CEO of Kinecta Federal Credit Union.
Greta Greathouse, chief of party for World Council of Credit Unions' Haitian HIFIVE microfinance program, reported to WOCCU headquarters via e-mail that staff members are uninjured and accounted for.
The latest white paper from the CUNA Marketing & Business Development Council shines a light on youth marketing.
Merced School Employees Federal Credit Union in California is now offering Fiserv Inc.'s new mobile solution to its 36,000 members.
Remote-deposit capture will soon be offered to the entire membership of the $2 billion Affinity Federal Credit Union, Basking Ridge, N.J., the credit union said.
In another sign of the Check 21 times, CU*Answers said it is going to stop offering direct deposit encoding processing to its clients, effective April 30.
Two Wisconsin credit unions have implemented remote check image processing from VSoft Corp., the Atlanta company said.
uMonitor said about half its client base attended its recent two-day users conference, presented virtually.
Share One said it now is recommending the antifraud and anti-money laundering solutions of Verafin to the Memphis, Tenn.-based core processing CUSO's client list of about 65 credit unions.
A credit union technology veteran has been named the new chief information officer at $1.3 billion Service Credit Union in Portsmouth, N.H.
SecureWorks is the new owner of a 10-year-old managed security services and consulting operation based in the United Kingdom, the Atlanta-based company said.
All businesses, including credit unions, must face a new reality.
To forecast what lies ahead in 2010, one has to consider the enormous legislative and regulatory challenges of 2009.
"The president has talked on a number of occasions about ensuring that the money that tax payers put up to rescue our financial system is paid back in full."