News

CUNA Mutual Group received first place in the 2007 INNovators Award competition, sponsored by Insurance Networking News magazine. The award recognizes innovative insurance carriers, agencies and brokerages whose business technology acumen produces demonstrable, tangible results.

Credit Union 24, the ATM/EFT network headquartered in Florida, announced that it has signed the $1.6 billion Tower Federal Credit Union to the cooperative EFT network.

Even though bankruptcy filings are down for the 12-month period ending March 31 overall, the number is beginning to creep back upward.

NCUA Chairman JoAnn Johnson unveiled a financial education library on NCUA's Web site last week, as well as new calculators on the MyMoney.Gov site for the Financial Literacy and Education Commission.

Debuting what is being called an innovative approach to payday products, the $200 million Family Trust Federal Credit Union has rolled out "Lifeline Advance" loans incorporating both a savings feature and a $35 program fee.

Of seven new co-sponsors added to the Credit Union Regulatory Improvements Act recently, six were not co-sponsors from the 109th Congress.

Visa USA, the nation's largest credit and debit card brand, has begun looking toward what it called a generational shift in spending patterns as the purchasing momentum moves from Baby Boomers to younger generations, which Visa identified as Echo Boomers.

One issue that is unique to credit unions is which institution is responsible for filing a Currency Transaction Report at a shared branch.