The majority of credit unions have seen their credit card programs largely unchanged by the implementation of the Credit Card Accountability, Responsibility and Disclosure Act.
Reaching inside the credit union movement following the tenure of a prominent outsider, CUNA last week named California-Nevada Credit Union League President Bill Cheney as its new leader.
The proposed elimination of personal guarantees could potentially cripple underwriting and punish those credit unions that have not "excessively abused their privileges," a group of 15 member business lending CUSOs recently wrote.
New losses at corporate credit unions increased the Temporary Corporate Credit Union Stabilization Fund loss provision by $1 billion during the month of March, the NCUA reported.
As executive compensation is made increasingly public, and credit union professionals become privy to what their colleagues earn, they're sharing the information with each other and the press.
A week after placing $250 million St. Paul Croatian Federal Credit Union into conservatorship, the NCUA on May 1 announced it was liquidating the credit union.
The NCUA and the Massachusetts Division of Banks jointly issued a letter of understanding and agreement to the officials of the $178.9 million Tremont Credit Union, Braintree, Mass.
Pressure from regulators to increase earnings has lead the board of Missouri Corporate CU to lower its overnight dividend rate to 0%, effective May 1.
Credit unions received a reprieve on data-reporting requirements but were still waiting on amendments on interchange fees and the agency to regulate consumer financial products as the Senate began to discuss the financial overhaul bill.
The $3.7 billion Corporate One FCU did not record any OTTIs against $35.5 million worth of securities wrapped by monoline insurer Ambac Assurance Corp., according to its March 2010 financials.
Triton of Delaware, an ATM manufacturer that makes its machines in the U.S. and was formerly a division of the Dover Corp., has been sold to private investors, the company confirmed.
World Council of Credit Unions board director Anne Cochran has been named treasurer of the group, replacing Mark Bailey.
The SBA has received an additional $80 million to support its 7(a) and 504 loan programs to keep capital flowing to small businesses.
Michigan credit unions and CUSOs are spreading the word statewide to small business owners that financing is available.
Under a new SEC proposal, large traders would be issued a unique identification number so that their broker-dealers could maintain transaction records in an effort to stop illegal trading activity.
Members who use shared branching services are more profitable for their CUs, according to a study commissioned by CO-OP Financial Services, the parent CUSO of CO-OP Shared Branching.
With an August target date, two Seattle credit unions, the $228 million Prevail Credit Union and the ailing $32 million Transportation Northwest CU, are preparing to merge.
The Texas Credit Union League has managed to get the 140,000-member Texas Association of Business to join CUNA's legislative drive on member business loans.
The World Council of Credit Unions' Board has unanimously voted to award Poland's Lech Kaczynski the 2010 Distinguished Service Award. The former president died with 95 other government officials and their spouses in an airplane crash April 10.
The $934 million Elevations Credit Union of Boulder. Colo., is expanding its reach across the state's Front Range by making plans to merge with the $20 million Longs Peak Credit Union of Loveland.
The task of protecting 10 small highway credit unions in Missouri from being ousted from state offices just got tougher even after lawmakers gave vigorous support to the industry cause late last month.
Two of the top executives at Nevada's struggling Silver State Schools Credit Union have apparently lost their jobs, it was disclosed last week.
In an unusual move to expand its business services footprint, Anheuser-Busch Employees' Credit Union has signed an agreement to serve the existing retail and business customers of Stifel Bank and Trust.
Eleven years after the now-defunct Eastern Airlines first flew the skies from its Miami-based hub, a credit union chartered to serve the carrier's employees made its debut.
CUES has tapped nine industry experts as advisers to the new Center for Credit Union Board Excellence.
Indiana Members Credit Union is doing its part for the environment with the launch of its "Save And Value Earth" program, called $AVE.
Michigan State University Federal Credit Union has teamed up with CarQuotes Corporation to offer its members a vehicle research website, free pricing reports and buying advice
After 14 years of service, Stanford Federal Credit Union CEO John R. Davis will retire effective May 14.
Sikorsky Financial Credit Union of Stratford, Conn., held a "Financial Reality Fair" for over 200 students.
WAILEA, Hawaii -- The meeting planners at PSCU Financial Services, the payments CUSO for more than 500 of the nation's credit unions, wanted to emphasize the positive at their annual Member Forum this year.
WAILEA, Hawaii -- Bill Sheedy, president of North America for Visa Inc, said credit unions have grown in stature with the No. 1 card brand.
As everyone knows by now, CUNA selected Bill Cheney as its next president/CEO. While I touted a month ago the strength of choosing an industry insider (Editor's Column, April 7), I really wasn't sure CUNA would follow that line of thinking.
I recently attended the NAFCU Chief Executive Officers Conference in Savannah, Ga., and the last speaker on the agenda was NCUA General Counsel Robert Fenner.
When Wachovia Bank agreed to a settlement with the U.S. government, it became the financial institution with the unfortunate distinction of having paid the largest penalty, $160 million, for a violation of the Bank Secrecy Act.
As credit unions are well aware, Regulation Z's new open-end lending rules under the Truth-in-Lending Act take effect July 1, 2010. Regulation Z establishes (among other things) uniform methods for disclosing credit terms.
In what may be a controversial move, Visa announced it is clamping down on a retail policy it said sometimes hurts consumers.
It is not an understatement to say that the CARD Act has turned the credit card industry on its ear. But, credit unions, by maintaining their focus on offering the best card product available to members, can still be true to who they have always been.
In this economy, credit unions are justifiably conservative in their lending practices.
Credit unions that have their credit card programs listed on the Credit Card Connection are reporting increased attention thanks to the listings.
Information from the largest card issuers suggests that more Americans are moving from economic stress to greater prosperity.
Credit unions are not the only ones familiar with the benefit of offering consumers surcharge-free access to ATMs.
In a move that may signal a broader trend reversal, the Target shopping chain has announced it will stop issuing its Target branded credit card with a Visa logo and will instead issue only its in-house Target branded card.
The charts and graphs below bring home both how far credit cards have moved from being almost an orphan asset in the credit union industry toward having a place far closer to the head of the table.
Genisys Credit Union, Auburn Hills, Mich., announced plans to partner with Palace Sports and Entertainment and sponsor the 20th annual "Walk for Warmth."
CU Members Mortgage, Dallas, recognized five credit union partners who made great achievements in their mortgage departments based on the scorecard process.