The former CEO at the 77,000 member, $1.5 billion Polish & Slavic Federal Credit Union has sued the credit union’s board of directors, both as a group and individually, alleging he was fired in May for following state and federal laws on equal opportunity hiring.
They say everything is bigger in Texas, but one thing that wasn’t. The real estate boom and subsequent bust. And it has worked out for credit unions in a big way. According to the NCUA’s second quarter statistics, homes in the Lone Star state have gained nearly 5% in value...
LAS VEGAS — Disruption. Disintermediation. Reinvention. These three themes rocked the first installment of Money2020, a bustling conference that attracted a full house of 2,000-plus attendees and, more importantly, it brought in very senior executives from major financial services players ranging from American Express to Visa, MasterCard and Discover; from...
Commodore Perry FCU President Thomas Renz said last week the reason the $32 million credit union filed an exam appeal–an accusation an NCUA examiner retaliated against the credit union in the form of a riskier CAMEL score–has been lost in the appeals process.
Credit union trade associations have entered the 2012 election homestretch, with both CUNA and NAFCU confirming PAC spending figures reported by the Federal Election Commission and website OpenSecrets.org.
Maryland is the richest state in the union with a median household income of $70,004, a cool $20,000 above the national average. However, as of June 30 Maryland’s credit unions reported just 61 basis points worth of profit, well below the national average of 0.86% ROA.
The negotiated settlement meant to end the longstanding dispute over credit card interchange moved closer to becoming final last week as attorneys for both sides in the dispute proposed a final settlement agreement to the U.S. District Court in New York and made a motion for its approval.
Thanks to the real estate bubble and its aftermath in the Great Recession, housing finance has become an increasingly important driver for credit union membership, according to credit union executives around the country.
Crafting a noninterest income strategy is an excellent way for credit unions to boost their revenue, but turning members off by unwanted fees in the process can defeat the whole purpose. That’s the premise of a new report from Filene Research Institute in Madison, Wis. titled, “In Search of Member-Friendly...
When CUNA Mutual Group set out to shake up a program that had grown a bit disjointed, the company went straight to members and credit unions to gather feedback on what changes needed to be made.
Credit union volunteers and professionals do what they do because they enjoy it–even get a sense of inner fulfillment from it–and are good at it. Otherwise, you’d be silly because the pay and benefits are relatively low and at credit unions you actually have to listen and try to fulfill...
The U.S. Justice Department is suing Bank of America over alleged mortgage fraud perpetrated against Fannie Mae and Freddie Mac by Countrywide, the giant mortgage originator purchased by Bank of America.
Phishing has been around for a while and it is nowhere near becoming a thing of the past, according to the latest report from the APWG.
The Credit Union Executives Society board of directors announced that Charles E. Fagan III was its new president/CEO, effective Jan. 3. Fagan has most recently served as executive vice president of PSCU. He takes over for the longtime CUES leader Fred Johnson retires on Dec. Johnson has led CUES for...
Credit Unions for Kids, the industry’s fundraising vehicle benefitting Children’s Miracle Network Hospitals, is projecting that credit unions will have raised $225,000 through their participation in September’s Miracle Jeans Day.
The $1.6 billion, 144,000-member Apple Federal Credit Union in Fairfax, Va., said it has been selected as the exclusive provider of banking services to George Mason University.
The $5.8 billion San Diego County Credit Union said it is the first financial institution in the country to offer live mobile chat to iPhone and Android smartphone users.
Nearly 200 credit union professionals from around the country gathered in Seattle last week for the NAFCU regulatory compliance seminar.
Tom Brokaw and personal finance journalist Jean Chatzky will be the keynote speakers at CUNA’s Governmental Affairs Conference set for Feb. 24-28 at the Washington Convention Center.
The $238 million Prevail Credit Union in Seattle, Wash., announced last week that the members voted to merge into the $781 million Harborstone Credit Union in Lakewood, Wash.
As avid a University of Alabama sports fan Caren Gabriel, president/CEO of Tullahoma, Tenn.-based Ascend Federal Credit Union may be, being a sports agent/attorney will just have to wait for her next life because she has found her true calling.
After a long, hard climb, credit unions have established themselves as a credible source for real estate loans.
A new opportunity has surfaced for credit union credit card issuers: the chance to offer affinity-branded credit cards. To be fair, this type of program is not new, but the marketplace has changed enough to make it a reasonable path for credit unions to consider for the first time. And...
After hitting 55 years old, Mr. and Mrs. CU Member are thinking about that retirement around the corner. They have recently paid off their mortgage and celebrated with a mortgage burning party. They have also paid off all of the other modest debts they ran up during their productive years....
Over the past 10 years I have watched and actively participated in setting up various delivery channels at credit unions. Today, credit unions have branches, telephone banking, call centers, online banking, text banking and mail banking.