Doug Wolf, the former president/CEO of Midwest Corporate Federal Credit Union, has been hired as vice president of ProDraft Services Inc., a payment processing CUSO, effective Dec. 1.
CUNA and NAFCU's PACs supported more winners than losers in the midterm elections, yet CUs still lost some key allies.
GOP Rep. Roy Blunt, on whose behalf CUNA's PAC spent $152,500 in independent expenditures, won an open U.S. Senate seat in Missouri. CUNA's PAC also gave Blunt's campaign $10,000 and NAFCU's PAC gave it $1,000.
More than 170 applicants submitted proposals for a new SBA pilot program that aims to help small businesses tap into their respective region's economic assets.
Credit union owners and clients of ProDraft Services Inc. will have access to correspondent banking services through the CUSO's partnership with Cincinnati-based Fifth Third Bank.
The average outstanding credit card balance was $4,951 during the second quarter, a drop of 13.4%, according to a report issued by the credit reporting company TransUnion.
Fifth Third Bank said it has partnered with ProDraft Services Inc. to provide correspondent banking services to the CUSO's credit union owners and clients.
Members of the $252 million Midwest Corporate FCU haven't yet voted to liquidate their cooperative. However, Board Chair Eric Musland, CEO of the $16.4 million LaMoure Credit Union, said liquidation "will probably happen."
The Missouri Credit Union Association is looking to hire a replacement for its retiring president/CEO, Roshara Holub, within the next 90 days, according to the group's chairman, Stan Moeckli.
Members of the $252 million Midwest Corporate FCU have decided the fate of their cooperative: liquidation.