The ongoing economic downturn has caused credit unions to rethink strategies for reaching out to lower income communities, but, so far at least, it has not killed most of them outright.
Borrowers who claim they were fraudulently lent money by the now failed Huron River Area Credit Union have sued the NCUA in an attempt to stop the agency from collecting on the loans.
ALEXANDRIA, Va. -- Federally insured credit unions found out what they had long expected last week, they will have to pay a 0.15% premium to replenish the NCUSIF and help the Corporate Stabilization Fund repay the loan from the Treasury Department.
The $1.24 billion Polish and Slavic Federal Credit Union has set in motion its largest expansion ever.
As the economy begins to show signs of life, credit unions converged on Washington to urge lawmakers not to add regulations that would make it harder for credit unions to serve their members.
A Pennsylvania entertainment megaplex that boasts a bowling alley, arcade games and 10-cent chicken wings recently got a last minute stay of execution thanks to Members 1st Federal Credit Union.
World Council of Credit Unions President/CEO Pete Crear is taking G-20 regulators to task, accusing them of failing to utilize input from financial cooperatives as they create new financial rules and regulations.
The Obama administrations plan to replace the Federal Family Education Loan Program with direct student lending got one step closer to becoming a reality with the House voting on and passing the measure.
Town North Bank has confirmed that long-time CEO John Reap has stepped down as CEO. Town North is the only bank owned by credit unions in the U.S..
Credit unions should do more to evaluate their risks and then set capital goals to reflect those risks, argued the author of a CUNA paper meant to guide credit unions through making those evaluations.
Now that her children are grown and living their lives, Kathy Keenan-Swanson said she's ready to take on another calling.
Western Federal Credit Union has filed a lawsuit against Chrysler Deputy Chief Executive Jim Press for defaulting on a loan.
The industry's quandary on overdraft protection policies and the prospect of restrictive legislation in Congress drew lively and intense debate at last week's convention of the New Jersey Credit Union League.
If California Attorney General Jerry Brown's investigation into the three major credit rating agencies turns up any violations of California law and sets a legal precedent, will the NCUA file suit to recover losses
The National Credit Union Foundation's 2010 Wegner Awards will recognize credit union leaders known for their pioneering and innovative work in insurance and organization.
Addison Avenue Federal Credit Union is giving consumers a push to help kick their big bank habit.
With speech making, picture taking and a cookout, CUNA's leadership all but wrapped up year-long anniversary celebrations last week marking the founding of credit unions with a gathering in Estes Park, Colo., to commemorate CUNA's chartering 75 years ago.
As credit unions continue to weather the economic storm, it may take achieving economies of scale and scope to reassure members that their financial institutions will remain healthy for the long term.
The Obama administration and House Financial Services Committee Chairman Barney Frank (D-Mass.) reversed course last week on key provisions of a measure creating a new regulatory agency on financial products
To help increase its membership base throughout the northeastern region of the country, Wings Financial Credit Union has created a new position: manager of business development.
The end of 2008 found 18 fewer than community development credit unions than at the start of the year, according to the National Federation of Community Development Credit Unions, the national trade association for CDCUs.
WASHINGTON -- Democratic strategist Donna Brazile told NAFCU members that she is optimistic that some of the political bickering in Washington will give way to a search for solutions.
WASHINGTON -- Proposed rules that better regulate risk and limit investment authority for corporate communications and clearer rules about chartering are the top initial priorities during the first months of her tenure
WASHINGTON -- It was less of a lobbying session and more like old home week when Selfreliance Ukrainian American Federal Credit Union President/CEO Bohdan Watral and Board Chairman Michel R. Kos visited Rep. Danny Davis (D-Ill.) at his office
WASHINGTON -- Credit unions should use the upcoming economic rebound to find ways to better serve their members, NCUA Board Member Michael Fryzel told NAFCU Congressional Caucus attendees last week.
WASHINGTON -- Paul Kanjorski (D-Pa.) is usually among the most popular figures at credit union gatherings and NAFCU's Congressional Caucus was no exception.
Almost five years ago the Virginia Bureau of Financial Institutions adopted a regulation permitting state-chartered credit unions to expand membership to underserved areas.
Credit union leaders around the country have been wrestling over how their institutions should react to the overall economic downturn the nation has been struggling through.
These charts from the National Federation of a Community Development Credit Union's report illustrate that while credit unions reaching out to serve the underserved have been struggling in the downturn, there has been some good news.
Iowa credit unions are finding steady growth in both assets and members as they reach out to underserved Hispanic communities, according to the Iowa Credit Union League and World Council of Credit Unions.
NAFCU brought in a number of lawmakers to its Congressional Caucus this week, which demonstrated that credit unions do draw some attention from their members of Congress. Attendees also mobilized on Capitol Hill despite a taxi cab strike.
Taking a cue from their members coping with the recession, state credit union leagues are exploring ways to cut costs and enhance revenue.
Bill Slach's Sept. 9 letter to Credit Union Times ["Linking Up With Other Co-Ops"] offered the observation that "credit unions may be missing the boat when they do not partner with other cooperative organizations."
Credit Union Times has a goal for 2009 to include Letters to the Editor in nearly every, if not all, issues. We had letters in nearly every issue of 2008.
While headlines remind us daily of the nation's economic difficulties and the steady rise in mortgage delinquencies and home foreclosures, a more positive message deserves more attention.
The Indiana Credit Union League is mourning the loss of former Vice President Governmental Affairs Millie Cox, who died in her sleep on Sept. 11.
Teresa Halleck, president/CEO of The Golden 1 Credit Union, said she believes that tightened examiner policies on prompt corrective action are needed but does not doubt the viability of small credit unions.
Payday lending is a topic that continues to generate heat as those in the industry debate whether the product is helpful or predatory.
As college tuition costs continued to rise along with the need for resources to pay for college among students, big lenders started to drop out of the market as the economy took a dive and the door of opportunity for credit unions opened.