Credit unions may soon have another alternative for their payment system processing through a new CUSO scheduled for launch by the corporate credit union network.
NAFCU has written a letter to the Federal Reserve expressing concerns that the debit interchange cap that the Fed is currently writing may wind up impacting credit unions as well as large banks.
The $3 billion Mid-Atlantic Corporate Federal Credit Union, long ranked among the healthiest, made clear this week it remains on its own in serving its credit union base and is apparently not joining any CUSO consortium.
CUNA President/CEO Bill Cheney announced today that his association is going to commission a quick external analysis of the industry's needs and create a committee to formulate additional proposals.
The Association of Corporate Credit Unions today announced that a CUSO will be formed for credit unions payment systems.
Corporate credit unions are quite the unpopular kid at prom these days.
With a vested stake in nearly a dozen CUSOs, Workers' Credit Union has tried, tested and proven theories on why it makes operational sense to extend its reach in several directions.
Citing changes in some long established economic patterns and the strengths of credit union cooperation, TMG Financial Services launched a finance CUSO that will help other CUSOs fund their operations, particularly their lending.
Despite the ongoing economic recession, a credit union created card aimed at higher end consumers has found its niche and is making money, according to its CU creator and issuer.
After almost 35 years processing credit union credit card transactions, Town North Bank has sold off its last stake in card processing.