Saddled with pressures to reduce operating expenses, California and Nevada credit unions had been seeking an outlet to help minimize costs through a collaborative network.
The question of whether a CUSO can act as a loan broker for loans used to finance the purchase of New York City taxi medallions was recently addressed by the NCUA.
A CUSO seeking to act as a loan broker for loans used to finance the purchase of New York City taxi medallions is permitted to do so, the NCUA said.
Hanscom Federal Credit Union, Hansom, Mass., announced that Kevin Reagan has been named assistant vice president of mortgage operations.
Given the economic climate over the last two to three years, a number of credit unions have had to seriously consider laying off employees, and some have actually done so. But for many credit unions, layoffs are a last resort.
Elizabeth Whitehead, the NCUA's associate regional director of programs in Region I, was named by the board to be the Director of Region V.