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Consumer Credit Down at CUs and Overall
Credit unions had $240.5 billion in outstanding consumer credit in September, down from the revised figure of $241.6 billion in August, according to data released today by the Federal Reserve.
Paper Says Central States Settlement Reached for $82 Million on Claims
Southeast Wisconsin credit unions, which lost millions in the March bankruptcy of Central States Mortgage Co and CU Fleet apparently have reached a settlement allowing them to recover claims totaling $82 million, according to local media reports.
CUNA Mutual Closes Crop Insurer Deal
CUNA Mutual Group said it has closed on its purchase agreement with Producers Ag Insurance Group to become the sole owner of the crop insurer.
Fifteen Biz Lending CUSOs Form Best Practices Alliance
With the mission of sharing best practices in the business lending arena, 15 CUSOs have come together to form Regional CUSO Alliance to promote sound business loan participation activity in their local markets.
Ohio League Looking to Sign Compliance Deal
The Ohio Credit Union League is looking to form a year-end partnership with its Georgia counterpart to provide on-site compliance specialists operating on more formalized monthly contracts.
Mich. CUs Announce Merger
Detroit Edison Credit Union and NuUnion Credit Union announced today that they have approved an intent to merge agreement.
Frank Urges Matz and Other Regulators to be Cautious in Their Oversight
Regulators should “show some temperance” when examining financial institutions so that they can continue to lend money to help the economy improve,” House Financial Services Committee Chairman Barney Frank said in a letter.
Unemployment Tops 10%
Businesses cut 190,000 non-farm jobs last month as unemployment reached 10.2%, the highest rate since April 1983, the Department of Labor reported today.
North Island Picks Retired CEO Tippets to Head CU
The $1.45 billion North Island Financial Credit Union of San Diego, one of California’s troubled CUs, announced Thursday it has hired veteran and retired CEO John Tippets, former head of American Airlines FCU in Dallas as its new CEO.
Lawyers Advise That UBIT Court Decision Represents ‘Substantial Authority’
The federal court verdict in favor of Community First Credit Union on UBIT represents substantial authority that credit life and disability insurance are exempt from the tax, according to an advisory opinion by attorneys for the UBIT Steering Committee.
Piedmont Advantage Finds 6.9% No Fee Card a Winner
A North Carolina credit union, the $238 million Piedmont Advantage, is enjoying a surge in new card business this fall as a result of a 6.9% fixed rate, no annual fee Visa card with account openings now topping 700.
Ventura County CU Gets New CEO
Former San Diego Metropolitan Credit Union President/CEO Joseph Schroeder has found a new home at Ventura County Credit Union.
Advisers Prefer Less Provider Visits, More E-Contacts, Survey Shows
Investment advisers at credit unions and CUSOs are familiar with the litany of visits, e-mails and calls from providers, but those frequent contacts may not yield long-term relationships.
Over 100 Indicted for Mortgage Fraud in Florida
Over 100 individuals representing many different facets of the mortgage and real estate industries have been indicted for their roles in different mortgage frauds by the U.S. Attorney for the Middle District of Florida.
Philadelphia FCU Debuts IMM Web Gateway
Philadelphia Federal Credit Union has gone first with a new Web channel that integrates its lending and other platforms with remote signature capability.

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Credit Union Times Digital Edition

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Networks and Devices Seen Fueling Sharp Growth in Mobile Banking
Mobile banking is gaining traction and the maturity of the infrastructure supporting it might present a new opportunity

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On The Credit Union Scene

Featured CU NEW! Digital Magazine Web Seminars
First Community CU Teaches Finance at Festival
First Community Credit Union held its first annual Fall Harvest Festival that featured interactive financial literacy games...

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Credit Union Times Web Seminars 

Flawless Execution - How to Maximize Operational Efficiencies and Reduce Costs in Turbulent Times

Originally broadcast on March 26th

This informative web seminar will share industry perspective with case studies from Jackie Buchanan, EVP & CIO of the $1.2 Billion Genisys Credit Union and Vice Chair of the CUNA Technology Council Executive Committee, discussing merger details and how technology played into the overall decision and cost cutting strategy; and Mary Cunningham, President & CEO of USA Federal Credit Union, sharing her credit union's change in strategy to accommodate the turn in economy and their continued focus on effectively and efficiently serving their membership of military personnel.

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Credit Union Times Week of 10/26/09

CSCU Executives discuss debit card value

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