The National Credit Union Foundation has chosen longtime credit union leader Wendell Sebastian as its next executive director.

One and a half million North Carolinians, who are members of State Employees' Credit Union, have $175 million on deposit at the NCUA with the NCUSIF. This deposit is owned by SECU members and is fully refundable.

CUNA and state leagues said last week their massive lobbying effort to oppose the Durbin interchange amendment triggered an estimated 35,000 letters and e-mail messages to U.S. senators, but that was apparently dwarfed by retailers' counter campaign.

Individual retirement account assets are now greater than in employer-based retirement accounts such as 401(k)s and 403(b)s, according to a Cogent Research study of 4,000 affluent and high net worth Americans.

Credit unions wanting an update on what federal examiners are looking for during examinations on Bank Secrecy Act issues can consult the just-released 2010 edition of its examination manual.

Like other corporate credit unions, Constitution Corporate FCU's investment portfolio performed worse than previously estimated, requiring a new $1 million-plus OTTI as of March 31.

The power of social media and its influence on growth in the financial industry is mesmerizing. However, the conspicuous absence of guidance from regulators, which may be holding back many credit unions from taking the plunge.

According to a recent Federal Reserve Board survey, those banks that have started easing their commercial lending standards have done so in response to increased competition from other banks and nonbank sources.