CHICAGO -- Half of all borrowers who go into foreclosure don't speak to their lender beforehand, HOPE NOW Alliance Executive Director Faith Schwartz told the AICPA National Conference on for Credit Unions breakout session attendees here.

CHICAGO -- Most credit unions need better internal controls if they expect to accurately record loan-loss allowances, according to an Oct. 20 panel during the AICPA National Conference here.

CHICAGO -- NCUA Board Member Gigi Hyland said U.S. Central Federal Credit Union issued medium-term notes to meet liquidity demands during her keynote speech at the AICPA National Conference on Credit Unions.

Western Corporate Federal Credit Union will issue at least $1.5 billion in 3-year notes, guaranteed by the National Credit Union Administration under the Temporary Corporate Credit Union Liquidity Guarantee Program, the NCUA confirmed today.

CHICAGO -- Current regulations and new ones expected from the NCUA was such a popular topic, the AICPA National Conference on Credit Unions booked the regulator's deputy director of examination and insurance twice.

Corporate America Credit Union filed a lawsuit Oct. 19 in Alabama District Court that claims management and volunteers of U.S. Central Federal Credit Union committed securities fraud.

Members United Corporate FCU released its September month-end financial statements today, and as expected, the $7.5 billion corporate depleted 100% of paid-in capital and recorded a 40.2% depletion of membership shares.

Corporate America's lawsuit against U.S. Central Federal Credit Union claims the corporate had counted on selling its impaired investments to the U.S. Treasury Department through the TARP while it was soliciting PIC II conversions from member corporates.