As most credit unions cut back on new initiatives, the $835 million Los Angeles Firemens Credit Union is moving forward with its wholly owned Pacific West Escrow, launching a new Web site for the company in early May (www.pacificwestescrow.org).
WASHINGTON -- A day after approving a stabilization fund for corporate credit unions, members of a congressional subcommittee asked Chairman Michael Fryzel why the NCUA hadn't done more to prevent the multibillion-dollar crisis facing credit unions.
The closing of more than 3,000 GM and Chrysler dealerships this year won't shock the credit union auto lending system, but it will force credit unions to refocus and restructure.
The economy is making for some tough decisions for employers.
Travel perks of credit union directors came under new scrutiny this month following revelations surrounding a whistle-blower's suit brought last December by the fired CEO of a New Jersey credit union.
Norlarco Credit Union's top executives mismanaged its residential loan program and relied on it too heavily as a source of income while state and federal inspectors weren't rigorous enough in their examinations.
A federal district court judge in Maine dismissed almost all of the legal complaints of consumers whose credit and debit card data were compromised in the Hannaford supermarket data security breach.
When a member turns to his or her credit union for help with long-term financial planning and investment goals, it would help if the employees are able to speak some of the lingo.
The NCUSIF's reserve balance was $5.3 billion last month and the fund lost $2.5 million in income, NCUA Chief Financial Officer Mary Ann Woodson told the board last Thursday.
It pays to be aggressive. According to Technology Credit Union Vice President of Marketing and published author Kathleen Litman, proactive marketing and public relation moves have helped the credit union's new-member growth while building brand awareness.
To go along with its Gen Y-centered iLife program, Shell Federal Credit Union in Deer Park, Texas, has added an iSave account.
Credit unions' budget crunch, hitting credit unions more sharply after the NCUA's assessment, is now taking its toll on charities, financial education and lobbying.
While credit unions have seen some hits in their investment programs, some have reported steady growth over the past three years.
The Securities and Exchange Commission is looking for a few good men and women.
The $2 billion First Carolina Corporate Credit Union joined all other corporates except the $100 million Iowa Central Corporate CU in participating in the Temporary Corporate Credit Union Share Guarantee Program.
With the economic squeeze affecting all businesses, now is the time for human resource departments to shine by helping their organizations.
A federal court has approved the distribution of $843 million to more than 257,000 harmed investors stemming from an American International Group SEC accounting fraud enforcement action.
The Federal Reserve Board on May 8 approved revisions to its Regulation Z mortgage disclosure requirements that implement provisions of the July 2008 Mortgage Disclosure Improvement Act.
NAFCU is doing its part to get people talking about credit unions with free, 30-second video awareness spots made available by NAFCU Services Corp
Doggone it, 1st Financial Federal Credit Union of Wentzville, Mo., scored well with pet lovers this month by sponsoring an "Adopt a Best Furrever Friend Day" at four branch locations.
The 30-year fixed mortgage rate has held fairly steady, maintaining near record lows since December and sending most credit union originations straight to Fannie Mae and Freddie Mac.
"The sky is falling, the sky is falling!" cried Chicken Little. Chicken Little jumps to a conclusion. Her friends are gullible. Panic ensues. Bad things happen. Then, as with all fables, we're presented with the moral of the story.
Happenings on Capitol Hill kept credit union groups hopping last week, not the least of which was the glimpse that NCUA Chairman Michael Fryzel gave into the agency's plan for the corporates.
For a number of reasons, some 401(k) plan providers are turning down withdrawal requests from investors.
In her May 13th column Editor-in-Chief Sarah Snell Cooke ended with the statement, "Fortunately, the credit union community is working to find a credit union solution to a credit union problem.
Credit Union Times takes a look back this week to 1993 to review predictions made at that time for the future of credit unions.
In these unprecedented economic times, there are really only two ways to deal with this financial crisis: increase revenues or cut operating expenses.
CHICAGO -- An executive with MasterCard Worldwide came out swinging in defense of card interchange at an international payments conference last week, arguing that current rates are not too high and a strong case could be made to raise them.
CHICAGO -- U.S. consumers would likely face credit or debit card surcharges and see their credit and debit card rewards programs disappear if the federal government decided to cap or cut credit and debit card interchange.
CHICAGO -- An executive with the Consumer Federation of America told payment industry executives attending the Payments Conference that cash is the consumers' best and safest method of payment today.
OnPoint Community Credit Union, Portland, Ore., named James Hunt its new chief financial officer. Hunt will be responsible for the accounting and finance business lines of the credit union.
Community Resource Federal Credit Union, Troy, N.Y., employees for the fifth consecutive year bowled in the Capital District Community Gardens' Garden fundraiser.
In the May 6 article "To Merge or Not to Merge? Ponder The Financials," George Frerichs' paraphrased quote should have read: