Jerry Reed, chief lending officer from the $5.3 billion Alaska USA FCU, told lawmakers during a June 18 hearing on the Consumer Financial Protection Bureau’s qualified mortgage rule that products and product features were responsible for the mortgage market meltdown, not underwriting standards.
Do you want to know a secret? Roughly three in 10 small credit unions do not maintain their core systems in-house, instead using “hosted” or “service bureau” solutions where the core is in fact maintained off-premises by a third-party vendor.
Eighteen months after it proposed a controversial loan participation rule that would have capped purchases from single originators to just 25% of net worth, the NCUA Board approved a final rule June 20 that significantly relaxed the provision.
As the day approached when the Federal Reserve was poised to raise or lower certain key rates, investors were likely wondering whether they would get the chance to bump up their savings.
When credit union trade associations are brought up in a conversation, CUNA and NAFCU are often the first ones that comes to mind. But there are plenty of smaller niche groups making people sit up and take notice.
For Anne Legg, senior vice president business strategy and innovation at marketing branding firm Third Degree Advertising, the glass is not only half full but it sparkles.
A credit union that shares leadership with the Illinois Credit Union League is issuing a credit card that consumer advocates have condemned as a consumer unfriendly, “fee-harvesting” card.
There are more signs that consumers are back at the dealerships where they’re not only buying new vehicles but signing leases as well.
A new alliance between the Iowa and Nebraska Credit Union Leagues and CoOportunity Health, a multistate co-op, is poised to offer another health insurance choice that features lower expenses and more benefits.
The 8,000-member, $70 million TECU Credit Union has discovered that launching a new credit card has revitalized its card program and refreshed it community image.
The NCUA announced June 14 it had inked a letter of understanding and agreement with the $7.4 million Valley Pride Federal Credit Union of Plains, Pa. The LUA requires the 1,588-member credit union to take steps to correct unsafe and unsound practices, including:
Credit Union Times hosted our second Not for CEOs live stream of 2013 June 20 on a topic we all love to hate: annual performance reviews. Our goal was to change that image and focus on what they can be good for. What can managers and employees take away from...
The Cooperative Trust and Filene Research Institute announced last week that James Marshall has joined the trust as its leader. Marshall succeeds Brent Dixon, who founded the trust in 2010 as Filene’s young adult adviser and led it over the past three years.
Carol Minges has been named interim CEO at 1st Financial Federal Credit Union of St. Charles, Mo. She replaces Frank Nelson as CEO.
Boston-based Trusteer is reporting that it has found multiple instances of sellers operating in Russian underground criminal forums offering what they claim is the source code for Carberp, the Trojan software used to target financial institution accounts.
Meriwest Credit Union has announced that Christopher M. Owen, President/CEO will be initiating a transition plan to retirement late this summer. Owen’s decision to retire will bring to close a career of 22 years of service with Meriwest Credit Union.
A 20-year-old waitress at a Washington state Red Robin has been arrested for alleged credit card skimming and King County authorities give credit to BECU, the $11.5 billion institution in Tukwila, Wash., for the information that broke the case.
What do you do as a board when you hear the words from your CEO of some 20-plus years, “I am planning to retire within the next few months?"
Just because a product sounds cool, doesn’t mean you need it. You know your latest credit card that gives 3% cash back for grill purchases? It’s probably great for a certain segment, but unless you’re CEO of Grillmasters FCU, it is unlikely to appeal to few people in your field...
With the arrival of hurricane season each year, credit unions know they need to pay more attention to preparing for disasters, particularly to protect members’ account records and related information.
Across all demographics, smartphone ownership has officially become the norm. Whether they’re middle-aged adults, rural residents, college graduates or millennials, adoption levels are at 60% or more, according to recent research. Credit unions are listening and taking action as they launch a plethora of mobile apps to woo those who...
At Space Coast Credit Union, we continue to reinvent ourselves to ensure that we meet the needs of our members. We work hard to ensure that we are keeping up with current trends so that we can both anticipate and be responsive to those products and services our members need...
Around the country, credit unions have been jumping on the mobile app bandwagon for the past few years, but has the hoopla actually started to pay off in terms of more revenue?
First New York Federal Credit Union, Colonie, N.Y., welcomed James Alescio as the company’s controller. Alescio is a graduate from Bentley University with an accounting degree. Before joining First New York, he worked at Trinity Alliance of the capital region and brings 15 years of banking experience to the credit...