More of the costs left over from failed corporate credit unions will hit most existing credit unions in late September. The NCUA Board approved assessing federally insured credit unions an additional 25 basis points of insured shares to help foot the bill for the Temporary Corporate Credit Union Stabilization Fund.
First-party fraud–accessing credit services with no intention of repayment–is a significant concern for credit unions and other financial institutions. And its prevention calls for a new strategy, according to Costa Mesa, Calif.-based credit reporting agency Experian.
When it comes to loan originations, it appears credit unions are seeing a glimmer of hope in their portfolios.
The NCUA board decided that keeping track of the bonds it has issued as part of the corporate stabilization effort has grown so complex that the agency has decided to hire a committee to oversee it.
Nearly a year after the NCUA filed a proof of loss claim to recover alleged monetary damages connected to the collapse of St. Paul Croatian FCU, the CUMIS Insurance Society has denied it.
Of the nearly 70 comment letters the NCUA has received so far in reaction to its proposed amendments to the CUSO rule, it’s no surprise that the majority are opposing the measure.
Kiva.org, the online organization that allows individuals to invest in development micro-loans around the world, has chosen a community development credit union as its field partner for its micro-lending effort in New Orleans.
The Maryland and D.C. Credit Union Association has hired an Illinois credit union executive to take over as CEO in October.
Every American will remember precisely what we were doing on Sept. 11, 2001. I was four months pregnant and Credit Union Times senior Washington reporter at the time. That was the day Credit Union House was scheduled to open, and I was getting ready to cover the grand opening celebration.
For Nathan Muniz, government relations and public relations manager at PSECU, the continued vitality of the credit union industry rests in activism and the legislative process.
Republican presidential candidate and Texas Gov. Rick Perry will speak at the Iowa Credit Union Convention Sept. 16.
A Walmart shopping center in Mesa, Ariz., is home to the $44 billion Navy Federal Credit Union’s newest branch.
There’s a new president/CEO at Lion’s Share Federal Credit Union.
Don’t be so quick to head to Facebook.
A new report from Forrester Research states mobile banking adoption in Canada has jumped by eight percentage points in two years. According to surveys the firm conducted with more than 5,000 online Canadian adults, the percentage of Canadian consumers who use online banking was 1% in 2008 and 9% in...
Knoxville TVA Employees Credit Union has helped jumpstart savings among those in foster care.
Fundtech Ltd. said many senior executives at its banking customers think cyber crime will never be controlled and even more think their customers would switch for better security.
A Spanish-language version of the NCUA’s consumer website is now available at www.espanol.mycreditunion.gov. The agency said the site is part of its continuing effort to reach Spanish-speaking consumers.
A former manager at a small Missouri credit union has been banned by the NCUA from participating in the affairs of a federally insured financial institution.
What comes to mind when you see the words “Latino market?”
Where does a credit union look for long-term growth today? The answer lies in noninterest income.
I recently reported an interesting statistic out of Lake Bluff, Ill.-based economic research firm Moebs Services: 77% of U.S. consumers chose to allow for debit card and ATM overdrafts since the 2010 implementation of Regulation E.
You can’t open up a trade publication or attend a credit union conference these days without hearing about Gen Y. These are the members who need loans and are key to our credit unions' survival. How can credit unions start reaching out to this generation, and where can they start?
Heading through the Beltway traffic on my way to the NCUA offices in Alexandria, Va., as the acting chairman of the agency on Sept. 11, 2001, I learned from radio reports that two of the World Trade Center towers had been hit by commercial jets–obviously no coincidence.
The credit union movement received better-than-expected news on June 29 when the Federal Reserve Board announced its rules to implement the Durbin Amendment concerning debit card interchange. For credit unions under $10 billion in total assets, interchange rates will show little or no decline in 2011, and this will probably...
The NCUA has been requesting comments on a proposal to permit credit unions to engage in certain derivative activities. Now that the agency has closed the comment period and is reviewing those letters, it’s important to keep a few key points in mind when asking, should credit unions be able...