With the recent guilty verdict against a businessman that scammed $7.5 million from the former Lockheed Credit Union to obtain a number of loans, the decision may have offered another instance of assurance that the public is becoming increasingly fed up with fraud.
As they say down South, South Carolina’s credit unions are “Forty goin’ north.” Translation: To do something with great gusto and enthusiasm.
Callahan & Associates Chairman Chip Filson said he questions a nearly $2 billion reduction in the NCUA’s Central Liquidity Facility stock reported in October when U.S. Central Bridge was liquidated. Filson also posted a blistering Feb. 28 opinion piece on the Callahan website questioning the NCUA’s financial transparency on the...
A whistleblower lawsuit filed Feb. 27 in New York District Court claims a former CEO of the $145 million Ukrainian National FCU suffered discrimination and retaliation so severe, it caused her to suffer a heart attack and default on her mortgage loan.
The Federal Housing Finance Agency, the regulator and manager of government-owned Fannie Mae and Freddie Mac, is poised to start to restructure the secondary mortgage market whether credit unions, banks or legislators are ready or not.
About 18 months ago, Steve Hoke and his team were discussing how indirect lending could potentially be a better process for credit unions and give members usable information that would actually result in driving that coveted vehicle off the dealership’s lot.
An executive whose previous firm advised homeowners looking to walk away from their mortgages says credit unions and other financial institutions should consider many of those same homeowners as potential new mortgage borrowers.
The $161 million St. Helens Community Federal Credit Union is seeking to dismiss a federal lawsuit filed by a member over a dispute to recall board members because it is not within the jurisdiction of the federal court.
In their quest to comfortably cover operating expenses with help from noninterest income, several credit unions said this year, they’ll mostly rely on NSF fees and interchange income, followed by income from insurance products and monthly service fees.
Americans frequently lend a helping-hand to orphans in Africa by building hospitals, houses and schools, but it’s not often that the children are given a credit union.
During the Governmental Affairs Conference, Chip Filson announced his intention to seek an NCUA Board seat, which was the culmination of speeches and online postings criticizing the NCUA’s activities throughout the financial and corporate crises. He has launched a petition designed to force President Obama to consider him as a...
If your board members owned eight-track cassette players, remember the moon landing and use Touch of Gray, Jim McCormack thinks you may have a problem.
We consistently hear from our credit union partners that they continue to focus on ways to differentiate themselves in a commoditized market. This is a challenge.
There are two main types of loyalty that have been widely accepted within academic circles, attitudinal and behavioral loyalty.
Recently, there have been articles in the media that talk about a purportedly “new” and “secure” way to deliver tax free executive retirement income and a tax free death benefit. This supposedly superior solution to credit union executive retirement needs suggest that everybody wins.
Larry Rouse, the IT manager at 121 Financial in Jacksonville, Fla., said the $428 million 37,200-member credit union took a big step forward last summer when it installed the cutting-edge Bloxx Tru-View Web filtering solution.
Two New York credit union professionals were recently named to the Credit Union House Hall of Leaders in recognition of their commitment and service to the credit union movement.
When it comes to the type of advice investment advisers and broker-dealers give, the SEC wants to know if new rules are needed to ensure that the information they’re sharing fits with their clients’ needs.
The Hampton Roads, Va.-based law firm Kaufman & Canoles announced partners Andrew Keeney and Dustin DeVore have been selected to co-chair the firm’s new credit union team. The firm said in a release the team was formed to respond to a growing credit union industry, where regulations are constantly changing...
Bernard McLaughlin has been appointed as the new president/CEO of the $724 million Point Breeze Credit Union in Hunt Valley, Md.
A firm which has specialized in helping consumers escape underwater mortgages is finding their former clients open to returning to the market again.
The $11 million Citco Federal Credit Union of Sheridan, Wyo., has won NCUA approval to convert to a rural district community charter to serve Sheridan and Johnson counties, according to its consultant, Dollar Associates LLC.
More business referrals from a growing roster of clients helped vehicle buying CUSO Autoland Inc. drive $93.2 million in loans to its credit union partners in 2012.