ALEXANDRIA, Va. — Credit unions could prepay between $10,000 and 36 basis points of insured shares toward their assessments to pay the costs of the rescue of corporate credit unions under a proposal announced at the May 19 NCUA board meeting.
With more than $350 billion in assets, affluent investors unhappy with their current employer-sponsored retirement plans have no misgivings about moving their funds elsewhere.
Although government work isn’t always lucrative, 25 NCUA employees make more than $201,000 annually, according to agency records.
By all accounts, it was the $1.6 billion Texas Dow Employees Credit Union that shook up the merger landscape last week with its merger with the $80 million Bluebonnet CU.
More than a year after St. Paul Croatian Federal Credit Union was conserved and liquidated because of losses from fraud, there have been indictments, federal and international investigations and money hunts, and a lawsuit against the NCUA.
The troubles at Nevada’s Silver State Schools Credit Union, which include a 2% pay cut in September, reverberated across the state again last week.
One of the inspirations behind creating a statewide lending brand that would be easily recognized by small business owners in Michigan evolved from conversations with local trade groups.
The latest forecasts for new auto loan originations at credit unions appear to be positive but with some caveats.
The financial statements of the NCUA’s four main funds are presented fairly, but there are serious difficulties in the agency’s financial accounting, according to an independent audit released on May 16.
Every morning I scroll through the headlines to find out what corporations are doing as it relates to corporate social responsibility. I’m hoping to one morning read “Credit unions impact [enter national figure here] students across the U.S” or “Credit unions keep [enter national figure here] members in their homes.”...
Central Liquidity Facility. It sounds like a conveniently located swimming pool for bureaucrats. It is not that, but what it is is misunderstood–even inside the credit union industry–and right now a debate is starting about the CLF’s role as the industry restructures.
Merit-based auto lending–or risk-based lending–has been around for a while. But with the economy pounding many members’ credit scores, what’s been happening lately? Credit Union Times checked with a couple credit unions to find out.
When solving a problem or working toward a goal, going the direct route can actually be more complicated and less successful than taking a more circuitous route.
A recent report suggests that branch visits may still be an underleveraged asset.
Last month, the Kansas Credit Union Association formed CUnext: Young Leaders of Kansas, a state-wide educational and networking group for 18- to 30-year-old credit union employees, and it isn’t the first group of its kind.
The $3.1 billion Space Coast Credit Union has filed a suit against two investment firms over the alleged misrepresentation of a collateralized debt obligation that the cooperative said led to financial losses.
If I were head of marketing at a credit union, “Purveyors of the American Dream” would be the institution’s tagline. It’s simple. It conveys what the financial institution can do for its members.
A new series from the Georgia Department of Banking and Finance addresses the role of boards of directors at credit unions and banks.
January 2012 is the scheduled date for an alleged business loan fraud case involving AEA Federal Credit Union.
Two Florida credit unions, Pen Air FCU and Gulf Winds FCU, both of Pensacola, are on opposite sides when it comes to grappling with card rewards in the face of the coming cap on interchange fees and the impact of overdraft regulation.
Members of Christian Financial Credit Union will get the chance to pitch their business ideas through a new contest.
Mazuma Credit Union President/CEO Rob Givens has announced that he will retire effective Jan. 1, 2012.
Volunteer Corporate Credit Union has announced its intent to explore a merger with West Virginia Corporate Federal Credit Union, VolCorp spokesperson Sandy Swofford disclosed.
North Carolina last week became the latest state to achieve progress on allowing credit unions to start offering a “Save to Win” savings sweepstakes program.
ANAHEIM, Calif. — CO-OP Financial Services' annual THINK conference has become known for bringing speakers from outside the CU industry to share a different perspective on credit unions and how to solve CU industry challenges. This year was no exception.
Matt Weidler, IT coordinator for Evangelical Christian Credit Union, has won the first THINK prize for his idea to allow consumers to access their funds from ATMs via mobile phones.
Legislative initiatives have been giving credit unions the ability to expand their operations beyond traditional parameters.
Credit unions in 20 states will want to pay particular attention to their fraud alerts and protections after the Michaels retail chain announced they had experienced an ongoing card data breach.
The National Consumer Law Center has issued a report that is critical of the fees many unemployed people have to pay because their states put unemployment benefits on cards.
NAFCU has elected to keep Fifth Third Processing Solutions as its exclusive preferred electronic funds transfer services vendor.
Pentagon Federal Credit Union, a card processing CUSO, and a leading CU card association are among the institutions cooperating with Visa Inc. in the launch of a new payments platform that promises to significantly change how payments are handled.
Many credit unions are right now creating strategies and evaluating tactics for attracting underserved consumers to their institutions.
The British branch of Equifax, one of the three large credit bureaus in the U.S., has warned that, in general, consumers do not have enough passwords to critical accounts and do not change the ones they have often enough.
CO-OP Financial Services has rolled out an innovation that the payments CUSO says will allow CUs to more easily control their ATM networks remotely.
Consumers were still shopping in April, though they were starting to look over their shoulders at rising gasoline prices, according to First Data's SpendTrend report.
A recent report from the Pew Health Group's Safe Credit Card Project has found that credit cards issued by credit unions remain the best deal for consumers and that, by and large, the Credit Card Accountability, Responsibility and Disclosure Act has accomplished the goals legislators intended.
A Walmart in Maine is the first national retail outlet to offer a personal teller machine–an ATM that displays a live person–courtesy of the $189 million Five County Credit Union in Bath.
Express Teller Services Inc., an ATM vendor located in Phoenix that specializes in ATMs for small financial institutions and retailers, has announced a special promotion that will help to support military men and women in uniform and their families.
Leading CU ATM and POS networks Credit Union 24 and Alliance One have announced that they will soon share members.
The $731 million Altura Credit Union sent one of its members, Miriam Perez Blum of Moreno Valley, to meet Grammy-award winning country music singer Carrie Underwood at the Stagecoach Country Music Festival held earlier this month.