WASHINGTON-With next year's congressional elections creeping up on lawmakers and lobbyists alike, CUNA's PAC - Credit Union Legislative Action Council (CULAC) - is dumping its war chest upon candidates. Many of the congressmen given contributions are members of the Financial Services Committee. Congressman Rubn Hinojosa (D-Texas) received $500 from CULAC...

WASHINGTON-While NAFCU and NASCUS had staked out their claims in the overhead transfer rate debate, CUNA's position, representing both state chartered, federally-insured and federal chartered credit unions, called for more delicate handling. CUNA Associate General Counsel Mary Dunn said, "[The overhead transfer rate issue] is driving a wedge between state...

ALEXANDRIA, Va.-Even though nearly all the issues addressed at the July NCUA Board meeting were very significant to the credit union industry, the meeting ran as smoothly as any of the others this year. During the meeting, the NCUA Board members approved unanimously every single item that came before them,...

ALEXANDRIA, Va.-NCUA's Office of Credit Union Development (OCUD) recently released its report on the programs for small and low-income credit unions and their activity. OCUD administers the Small Credit Union Program (SCUP) and the Low-Income Designation Program, with a focus on safety and soundness, guidance, and facilitating expansion of credit...

ORLANDO, Fla.-According to Rutledge Capital, LLC President and CEO Dr. John Rutledge, credit unions need to do more business lending now. "It's all stories of no cash, no working capital right now," he said. In order for the economy to pick up, some additional business lending will be necessary. Rutledge...

ORLANDO, Fla.-With the number of consumers using the Internet increasing daily, credit unions cannot afford not to be online. According to CyberBranch President and CEO Warren Marshall, not only is that where consumers are going more and more for business needs, but it is also a great strategy for targeting...

WASHINGTON-Federal Reserve Board Chairman Alan Greenspan told the House Financial Services Committee last week that between the agency's rate cuts and the administration's tax cut, the American economy should be reversing its downward course in due time. "Our accelerated action reflected the pronounced downshift in economic activity, which was accentuated...

ORLANDO, Fla.-NAFCU President and CEO Fred Becker took the time during NAFCU's Annual Conference & Exhibition to commend federal credit unions for their growth. He told the 1,600 attendees of the conference that federal credit union membership was climbing and that one in four Americans belongs to a credit union....