For what seems like an eternity, credit unions had been used to working with an insurance broker model that some in the industry said prevented more revenue from flowing their way.
Credit unions took their case for keeping the status quo on interchange fees to Capitol Hill last week as House and Senate conferees began their effort to reconcile the different versions of the regulatory overhaul bill.
As Congress contemplates whether to pass a law regulating debit card interchange, a majority of economists and government officials attending a meeting on the subject agreed that there is no economic basis for the proposed regulatory change.
In the movies and on TV they're easily recognizable by the plaid coat, slicked back hair and too-good-to-be-true sales pitch.
The House last week was slated to pass a bill establishing a $30 billion fund for community banks to draw on to increase business lending.
With the recent filing with the SEC for an initial public stock offering by LPL Financial Corp., it remains to be seen what impact, if any, the move will have on the company's more than 230 credit union clients.
A bank employee who pleaded guilty in July 2009 in a case involving $4 million in stolen certificates of deposit from four credit unions and other financial institutions is scheduled to be sentenced this month.
The debut of a new financial "university" by HarborOne Credit Union to serve low- and middle-income communities has received praise from Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee.
Is your credit union in need of new members? Is your career in a funk? Don't just stand there stewing and ruminating. Instead, reinvent your credit union and yourself.
Joseph Brancucci has been selected to fill the slot of president/CEO at GTE Federal Credit Union left vacant at the end of last year by Bucky Sebastian.
In a management succession long in the planning stage, Kim Sponem, president of the $1.4 billion Summit Credit Union, Madison, Wis., will be named CEO, effective Oct. 1, succeeding veteran Andy Faust.
The White House and Congress are starting to recognize the impact community development financial institutions are having in providing affordable housing expansion, small business support and financial services to urban and rural areas.
When it comes to generating innovative ideas is your credit union tapping the same old sources?
The $279 million PrimeWay FCU of Houston is nearing regulatory completion for a merger with the ailing $125 million TexasOne Community CU, also of Houston.
Core Federal Credit Union and Pentagon FCU have both been named NAFCU's federal credit union of the Year.
Small business owners are still skittish about hiring new employees even as some indicated they have access to the credit and financing needed to keep their firms running.
Patrick Totten is the new president/CEO of the $73 million Miami Firefighters Federal Credit Union effective June 1.
Enlisting the help of credit unions, the Co-Op Miracle Match program has again promised to raise $1 million for the Children's Miracle Network by the end of fiscal 2010.
Mid-America Credit Union Association has named Robbie Thompson as its new president/CEO. Thompson is vice president and general counsel at the $280 million Members Cooperative Credit Union of Cloquet, Minn.
The Canton, Ohio-based ATM provider Diebold Inc. has agreed to settle an allegedly fraudulent accounting case that inflated the company's earnings by at least $127 million, the SEC said earlier this month.
After a seven-year hiatus, Alabama's largest credit union, the $2.6 billion Redstone Federal has officially rejoined CUNA and the League of Southeastern Credit Unions, with its CEO pledging help in the interchange fight.
If the member business lending 12.25% asset cap go to 27.5% or higher, NCUA Chairman Debbie Matz reiterated how the agency would be ready to revise the member business lending regulation.
Muslim members of North Jersey Federal Credit Union will have access to a new Islamic banking division in line with their spiritual beliefs.
American First Credit Union President/CEO Bob Street has retired after 20 years of service.
The favorable press heaped on credit unions recently has also triggered a jump in those online find-a-CU services offered by trade groups, primarily CUNA and NAFCU.
Now that it has some tangible evidence from a nearly year-old project that provided training to credit union employees on investment education, the Wisconsin Credit Union League is gearing up to reach the poor and underserved.
The Credit Union Foundation of Maryland and the District of Columbia has released what it calls a first-of-its-kind credit union search application for Apple devices.
TMG is now offering its 230 credit union customers the ability to provide their card-using members with mobile banking and transaction alerting solutions.
Bradford-Scott Data Corp. said it will be converting Sheboygan Area Credit Union to the Sharetec System core processing platform.
Mountain America Credit Union said it has seen a sharp reduction in false positive rates while picking up more real fraud attempts since it began using a new deposit account fraud and compliance solution.
One of Brazil's largest credit unions has contracted with Accenture to provide information technology support and systems development as the credit union moves through a period of anticipated growth, the company and credit union said.
More than 150 members of First Community Credit Union signed up for the suburban St. Louis credit union's new mobile text banking service in the first month of its offering.
The report has come out from a nationwide simulated cyber attack on the nation's ACH, check and card payment systems earlier this year.
Credit unions running on the UltraData core platform are now being offered formalized data conversion merger services by Harland Financial Solutions.
Fiserv Inc. plans to leverage its CheckFree bill pay network for a new person-to-person (P2P) service that will allow users to send payment to anyone with an e-mail address or mobile phone number.
Are the days of simply creating back office efficiencies becoming old hat as credit unions continue to generate ways to remain relevant to their members?
The credit union industry has always been unique in its willingness to cooperate, but the need to collaborate today is undeniable.
The number of credit union executives from across the country that turned out on Capitol Hill for the interchange battle was very impressive, especially on such short notice and when travel budgets have been practically bled dry.
It was great to see the disaster-recovery articles in the May 19 issue, which addressed a common theme: the importance of communication during crises.
If you sell your credit card portfolio there is a very good chance that the broker will make more money from that sale than you will.
HarborOne Credit Union, Brockton, Mass., announced that Barry Koretz was appointed chairman of the board of directors.
Bay Federal Credit Union, Capitola, Calif., employees were honored at a recent United Way of Santa Cruz County awards ceremony for fundraising at local businesses.
Point Loma Credit Union, San Marcos, Calif., hosted students from San Marcos High Schools during its "Job Shadow Day" program.
TruMark Financial Credit Union, Trevose, Pa., celebrated the opening of its 13th branch. The credit union held a ribbon-cutting ceremony at the new branch located at Parkwood Shopping Center in Philadelphia.
Name confusion among its members prompted the $625 million Clearview Federal Credit Union to file a complaint against Clearview Credit Inc., a Florida debt settlement company.