Thick in the heyday of originating indirect loans, credit unions basked as the slices of their auto lending portfolios swelled to historic proportions.
In a move to avoid duplication of services and to establish a more equitable pricing structure, the California Credit Union League and CURoots Cooperative said they are in discussions to transfer the CUSO’s ownership to the California League Services Corp.
All current compliance and audit services and contracts to continue uninterrupted.
Bill pay functionality extended to Apple and Android devices.
CURoots offers shared compliance, internal audit and health benefits services.
App allows shared branching credit union members to move funds between accounts or other members' accounts via smartphone.
CEFCU, Peoria, Ill., announced that a record extraordinary dividend of $9 million has been distributed to CEFCU members. The dividend was based on members’ savings and loan activity during, with $4.5 million going to borrowers and $4.5 million going to savers.
As the recession snaked its way into the economy in 2008, credit unions braced for the impact it would have on members in unemployment, rising debt and underwater mortgages.
Lending solution provider CU Direct Corp. said its board of directors recently approved a 3% cash dividend to its 102 shareholders.
To help credit unions and members affected by Hurricane Sandy, CU Direct Corp. said it has donated $10,000 to CUAid.