JPMorgan Chase’s $2 billion failed credit risk hedge is different than the investments that led to the corporate credit union crisis. However, there are also similarities, according to industry investment experts. Specifically, overleveraging and a drive for income that compromised risk management.
The Filene Research Institute has partnered with Amazon to offer credit unions a unique opportunity to market their credit cards online.
An NCUA Office of Inspector General’s investigative report revealed that the federal regulator questions the safety and soundness of the $25 billion State Employees’ Credit Union, the nation’s second largest.
At first glance, Louisiana Corporate CU’s 2011 financial report shows an institution that increased total capital by $442,565 over the previous year, for a total of $8.9 million. However, the $218 million corporate will have to contend with $2.2 million worth of membership capital shares on notice.
As the prices for new and used cars edge higher, more consumers are opting to ride off the dealership’s lot in a leased vehicle.
The aftermath of a $2 billion trading loss at JPMorgan Chase & Co., continues to spread both in and outside the company.
Even in the middle of recessions and the unemployment and foreclosures that come with them, credit unions have proven that they can weather downturns.
An ad hoc group of small Colorado credit unions is getting help from their larger brethren to cope with compliance and social media challenges.
Keep an eye on these hot little numbers coming down the credit union runway this season. It could help your institution become the next top credit union.
Who knew that the little boy who’d started a newspaper or held a neighborhood carnival where he could sell his Quick Draw McGraw and other toys would be a financial marketing strategist and a top industry consultant? Well, actually Mark Weber, president/CEO of Weber Marketing Group, did- sort of.
Ten more credit unions have signed on for Web-based digital signature software from Complete Data Products of Troy, Mich., the company said.
A San Diego neighbor–the $177 million Miramar Federal Credit Union–has become the 10th client of startup core processor Corelation Inc.
Ensenta and MShift have partnered in a joint mobile banking and remote deposit checking deployment now in place at five credit unions, the companies said.
A few months after buying it, CO-OP Financial Services has rebranded the former Corporate Network eCom bill pay operation as CO-OP Bill Pay.
More than 175 credit unions and banks installed automated compliance software from Wolters Kluwer Financial Services in the first quarter of 2012, the company said.
Two years after their partnership formed, a Texas Credit Union League subsidiary and a Philadelphia vendor said they now are serving more than 80% of the state’s credit unions participating in the Texas electronic lien and title program.
Bradford-Scott Data Corp. in Indianapolis said the $22 million KBR Credit Union in Tacoma, Wash., said it has begun using its Sharetec core processing system.
The $78 million Alternatives Federal Credit Union in Ithaca, N.Y., plans to convert to the Symitar Episys core processing system through the service bureau at Synergent Technology Services of Portland, Maine, the company said.
Despite the frustrations that some credit unions face with building long-term, multiple product and service relationships with members who come through the door via indirect lending, the loans have continued to be a meaty portion in many portfolios.
From delinquencies to repossessions, credit unions continue to hold their own with keeping their rates low compared to other financial institutions.
CU Members Mortgage is one of the largest for-profit providers of mortgage services for credit unions turns 30 years old this year and said it stands ready to enter its next decade armed with the latest in mortgage origination and servicing technology.
Just about a year ago, I wrote in these pages that credit unions must have felt like they were riding a roller coaster with their auto lending programs. After all, their market share had gone up and down as the overall auto lending industry had several chaotic years.
After sitting through years of my credit union's sparsely attended annual meetings, which seemed to be held for the sole reason that doing so is required by law, I decided to try something new this year and run for the board of directors.
After a year on the drawing boards, the $3.3 billion Lockheed Federal Credit Union will become Logix FCU on July 9, a name change reflecting a lessening of formal ties to its original corporate sponsor.
George R. Davis, president/CEO of Insight Credit Union, announced that the Orlando, Fla.-based credit union has received approval from the state of Florida for its request to expand the credit union’s field of membership to include the counties of Levy, Dixie, Taylor, Gilchrist, Columbia and Suwanee in West Central Florida.
After 55 years, John Rawls announced his plans for retirement from the Florida Credit Union board of directors this spring.
Freakonomics author Stephen Dubner will provide credit unions with the keys to unlocking member satisfaction at NAFCU’s 45th Annual Conference and Exhibition, July 24-28, at the Gaylord Opryland Resort and Convention Center in Nashville, Tenn.
Affiliates Management Co., Coopera’s parent company, announced that Miriam De Dios is Coopera’s new chief executive officer.
NeighborWorks America announced that Gigi Hyland has been named its board chair. Hyland succeeds Thomas J. Curry. Hyland has served as the NCUA’s representative to the NeighborWorks America Board since 2008.
It was encouraging to read in the that U.S. credit unions set a new record for mortgage originations during the first quarter of 2012. (CUTimes.com, May 10, “Credit Unions Notch Record Share of Mortgage Market.”.
An article in the May 16 issue, “Social Media Strategy: Targeted Forethought Needed,” Health Care Credit Union was incorrectly listed as headquartered in Indiana. Health Care CU is based in Salt Lake City, Utah.