At the close of 2011’s second quarter, a handful of credit unions located in the sand states, where a teetering economy has made it most difficult for financial institutions to thrive, shared hopeful bits of news: net worth ratio improvements, net income increases, loan loss reductions and operating expense cutbacks.
Over the past 24 years, when banks were pulling back on lending to businesses, it appears credit unions were quietly and consistently stepping in to fill the void.
Which way to the exits?
WASHINGTON — Saying that her goal is to “target risky behaviors in credit unions, not credit unions themselves,” NCUA Chairman Debbie Matz on Sept. 19 announced that the agency will beef up certain safety and soundness regulations but ease up on others.
ALEXANDRIA, Va. — If current financial trends continue, the NCUSIF's equity ratio will likely end the year at between 1.28% and 1.32%, which could mean a lower assessment to pay for the corporate credit union rescue, NCUA Chief Financial Officer Mary Ann Woodson told the agency's board last Thursday.
The National Federation of Community Development Credit Unions announced a new program designed to help New York City area CDCUs offer payday loan alternatives last week.
With the average age of members hovering above the mid-40s range, courting a much younger segment has increasingly become a top priority for some credit unions.
Republican presidential candidate and Texas Gov. Rick Perry recently threw his support behind increasing the member business lending cap.
Deciding where to live in retirement can involve more than checking the number of sunny days in various locations or calculating how long it will take to drive over to see the grandkids.
In recognition of his 25 years of leadership, Gary Oakland, president/CEO of BECU, has been tapped to receive the Mark of Excellence Award at the Northwest Credit Union Association convention.
Three out of four employees use direct deposit for payroll and one out of four still receive paper checks, said a new survey from NACHA, the electronic payments association. The survey revealed a 2% increase in direct deposit use, from 72% to 74%, and 71% of employees cite convenience as...
PayPal gave merchants and others a peak at the new payments technology that, it said, will allow it to overcome the dominance of Visa and MasterCard at the point of sale.
The 49,000-member Los Angeles Federal Credit Union has partnered with Shop LA, a city-sponsored effort to promote Los Angeles as a retail destination, to launch a Visa card that will triple the rewards points for purchases made in the city.
WASHINGTON — House Financial Services Committee Chairman Spencer Bachus (R-Ala.) didn’t address specific credit union legislative priorities during his speech at NAFCU’s Congressional Caucus, but he commiserated with attendees about the dangers of excessive regulation.
WASHINGTON — Two members of Congress used their speeches at NAFCU’s Congressional Caucus to deliver news that advances the cause of raising the cap on member business loans.
For a dozen years, I’ve attended events like NAFCU’s Congressional Caucus and CUNA’s Governmental Affairs Conference. Every year, wise members of Congress play to their audience, smile and shake hands. If there were babies there to kiss at a credit union conference, they’d be doing that too. Politicians stay politicians...
For Jon Jeffreys, president of Credit Union Student Choice, credit union survival boils down to value and collaboration.
Brooklyn native and former star baseball pitcher John Franco will continue to be the official spokesperson for Municipal Credit Union.
Credit unions should be gearing up for the International Year of Cooperatives.
Nearly a year and a half after several members sued the NCUA to recover $4 million involving the defunct New London Security Federal Credit Union, their case was recently dismissed by a federal court for missing a key deadline.
The NCUA-conserved Arrowhead Central Credit Union in San Bernardino, Calif., will get a new CEO in October.
The new year will bring new leadership to 1st Advantage Federal Credit Union.
CU Solutions Group and O’Rourke & Associates have joined forces to leverage their strengths of compensation administration, performance management and executive recruitment service.
The Credit Union Executives Society has whittled down 560 entries to 144 winners of the group’s 2011 Golden Mirror Awards.
North Island Credit Union Chief Operating Officer Geri LaChance has been tapped as the president/CEO SESLOC Federal Credit Union of the San Luis Obispo, Calif.
The collapse of an Oregon merger deal can be blamed on the unexpected.
A 25-year strategy veteran has been named to the new position of executive vice president for the credit union experience at PSCU Financial Services, the company said.
David Snodgrass, an executive vice president at Affinity Federal Credit Union, will be taking over as the new president/CEO of the $1.6 billion Lake Trust Credit Union in late October.
MountainCrest Credit Union has found its new CEO in Mark Morrison.
One large credit union on Long Island, N.Y., is finding that its members have both demand and ability to take out home equity loans and lines of credit.
CU clients of Fiserv may soon be able to offer their members personalized smart chip cards, according to an announcement from the technology firm.
So far, robbers have targeted credit unions 151 times in 2011, according to the FBI's Bank Crime Statistics Reports. By comparison, robbers hit banks 1,891 times, savings and loans 37 times and mutual savings banks nine times.
Banks appear to have begun picking up the pace of foreclosures on residential real estate in August, reducing the time before the housing industry works through the overhang of troubled properties, according to RealtyTrac.
I recently started in my fourth decade in the credit union movement (20 years at natural person credit unions and 13 years at Corporate One FCU). During that time, I've seen my share of regulation changes, legislative mandates and economic cycles. And there have always been those who have predicted...
We all know that ignorance is no excuse for failing to obey the law. Yet maintaining razor-sharp knowledge of the rules governing financial services is a fulltime job. To really do it right, credit unions need a person -- sometimes many people -- to create and follow a calendar of...
DuPont Community Credit Union is mourning the loss of its last surviving founder and longtime director Robert L. Tichenor who has died at the age of 93.
Regarding Sarah Snell Cooke’s Editor's Column in the Sept. 14 issue. Best editorial yet.
If Congress allows credit unions to make more business loans, the industry can expect even more supervision from the NCUA.