ALEXANDRIA, Va.-NCUA recently published its Insurance Report of Activity showing that nearly 3.2 million potential members were added through underserved area adoptions. Primeway Federal Credit Union in Houston alone accounted for nearly two million of those potential members. Other large ones included Jeep Country Federal Credit Union, which added 188,598...

WASHINGTON-Even though two CEOs of large credit unions agree that the credit union community should be discussing the possibilities for secondary capital among credit unions, both say they cannot foresee an alternative capital solution that fits with credit union philosophies. "It is a great debate the industry should be having,"...

WASHINGTON - NCUA Board Member Debbie Matz attended the opening of Lower East Side People's Federal Credit Union's third free tax preparation and financial education site for people of low-to-moderate income. LESPFCU is the first credit union to request a grant from NCUA to help offset the costs of opening...

WASHINGTON-Top officials from CUNA, NAFCU, and NASCUS met recently at Credit Union House to discuss strategies for the Credit Union Regulatory Improvements Act (H.R. 3579) and the Financial Services Regulatory Relief Act (H.R. 1375). The three major credit union trade associations held the Jan. 30 meeting to work toward presenting...

WASHINGTON-GTE Federal Credit Union Chief Financial Officer Rich Helber told attendees of a recent Callahan & Associates Webinar on mergers to seek out the opportunities in mergers and not focus on dilution of capital and other negatives. It costs a credit union about $100 a head to gain new members,...

WASHINGTON-NCUA Chairman Dennis Dollar and Vice Chair JoAnn Johnson participated in the inaugural meeting of the Financial Literacy and Education Commission created under the recently passed Fair and Accurate Credit Transactions Act. During his remarks at the Jan. 29 hearing, the chairman pledged the full support of the agency and...

SALT LAKE CITY-U.S. District Court Judge Dale Kimball heard the credit union and banker arguments last Tuesday on NCUA and the credit union intervenors' objection to the magistrate judge's decision to allow for discovery in the Utah field of membership case. According to attorney Paul Lambert of Bingham McCutchen LLP,...

WASHINGTON-Following a hearing in which House Financial Services Committee Chairman Mike Oxley (R-Ohio) spoke favorably of preemptions by the Office of the Comptroller of the Currency, NCUA issued three legal opinion letters preempting state lending laws. One legal opinion letter (03-1106) addressed to a New Jersey attorney said that the...