The DDoS threat keeps growing. Third-party experts and credit union executives—primarily speaking anonymously on the subject—said most credit unions have done nothing to protect themselves against the threat, which has been increasingly linked with theft of funds at financial institutions.
Merchants and card issuers released separate studies Oct. 1 that made contradictory claims regarding the effect the Durbin Amendment’s interchange cap has had on consumers. The groups timed their releases to coincide with the two-year anniversary of cap’s effective date.
Since announcing their alliance with CoOportunity Health in June, the Iowa and Nebraska Credit Union Leagues have been training and educating credit unions about what the Patient Protection and Affordable Care Act means for members.
WASHINGTON—Executives attending Visa’s Oct. 2 Global Security Summit here were told by speakers that increased data security at large retail firms and data processors have forced many thieves move on from seeking big data breaches and compromises. However, the presenters also pointed out that every new app, website, mobile...
During the information technology budgeting process, experts say expensive mistakes include cutting corners on security, splurging on ineffective new tech tools and not aligning future technology investments with existing strategy.
Digital Federal Credit Union has teamed up with SunPower Corp. in an agreement that could provide up to $100 million in loans for residential solar projects in the U.S.
At press time, the federal government shutdown was on its second full day. Reports are mixed regarding how long it could last—some still maintain it will be over in a few days, while others insist the political impasse could drag on for weeks.
When you trace your roots to a time when Alphonse Desjardins was traveling around New England preaching the gospel of member-owned financial cooperatives, you’ve been around a while.
When it comes to buying a new car, baby boomers may have an edge over the potential buying power of the much sought-after Generation Y.
The $4.2 billion Pennsylvania Employee Credit Union is getting out of the student loan business, but Harrisburg, Penn.-based credit union’s decision isn’t related to recent criticism directed at loan servicer Sallie Mae.
During a recent evaluation of a group of banks on customer effort levels required to interact in areas like branch banking, mobile websites, customer assistance and online banking, the results showed that the 45 to 65 age group, the most frequent bankers exerted the most effort to bank online.
Lenders are always challenged with finding innovative ways to grow their portfolios. As the appeal of broad-market direct marketing dwindles in our highly competitive marketplace, lending institutions are moving to more-targeted acquisition strategies by leveraging a deeper understanding of a member’s lifetime value.
Heather Anderson’s Oct. 2 article, The Lowdown on Serving Low-Income Populations: Executive Editor’s Column, presented an honest and unbiased view of the challenges in providing financial services to less-affluent members of society: the population the credit union movement came into existence to serve.
I just read the Editor’s Column of Sept. 11 and was surprised by comments regarding issues unrelated to credit unions, i.e. U.S. foreign relations and the president.
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Average compensation for CFOs jumped 18% from 2011 to 2012 at financial institutions with assets of $25 million to $2 billion, according to an analysis by Chicago-based accounting and consulting firm BDO USA.
The World Council of Credit Unions urged the Basel Committee on Banking Supervision to strive for greater clarity in its recent “Sound Management of Risk Related to Money Laundering and Financing of Terrorism” consultative document. The Basel Committee’s AML rules are one of the international standards that influence U.S. credit unions’...
Credit unions are trumping banks when it comes to average certificate rates, according to a new GoBankingRates.com study. Rates on $10,000 certificates are 44% higher at credit unions than at banks, said the Los Angeles-based personal banking website.
Tim Segerson, deputy director in the NCUA’s Office of Examination and Insurance, told executives attending the American Credit Union Mortgage Association conference in Las Vegas Sept. 25 the agency continues to explore how credit unions can mitigate real estate loan risk.
Steven Van Beek has left NAFCU to join the law practice of Howard & Howard at the firm’s office in the Detroit suburb of Royal Oak, Mich.
The $400 million First Heritage Federal Credit Union in Painted Post, N.Y. announced that Justin Michael Dildine has joined as a commercial loan officer. He will be responsible for developing new business banking relationships, including commercial lending, within the credit union’s three-county market area. Before joining First Heritage, Dildine was...