WASHINGTON-NCUA, CUNA, and NAFCU are fairly diverse employers in relation to the demographics of the country, according to internal tallies. So how is your credit union doing? NCUA Director of Equal Opportunity Programs Marilyn Gannon said that NCUA is aggressive about recruiting employees from all types of backgrounds. "The agency...

WASHINGTON-The elimination of Title V of the Gramm-Leach-Bliley Act (GLBA), which is the financial privacy section, was one thing consumer advocates and financial institution representatives alike agreed on during the Federal Reserve Board's Consumer Advisory Council's most recent meeting. However, Consumers Union Legislative Counsel Frank Torres wanted to start over...

WASHINGTON-The best remedy for robbery is prevention, several experts have said, particularly with the increasing number of robberies across the United States. Prevention includes several elements such as the structure and location of a credit union's offices to employee training and preparedness. According to recent preliminary data released by the...

WASHINGTON-Congressman Barney Frank (D-Mass.), a very liberal Democrat, has announced his interest in becoming the next ranking Democrat on the House Financial Services Committee. He made his intentions clear June 27, just one day after current Ranking Member John LaFalce's (D-N.Y.) decision not to seek re-election for a 15th term....

ALEXANDRIA, Va.- According to NCUA's monthly report on delegated activities, 19 CU mergers were approved for May with eight remaining federal charters and 11 continuing business as state chartered credit unions. The merged federal credit unions totaled almost $21 million in assets, while the state charters merged about $31 million...

ALEXANDRIA, Va.-NCUA recently issued several legal opinion letters on many issues important to credit unions ranging from the hot topic of member business loans to finder activities to board meeting governance. The following is a summary of those letters: * Credit unions may use the outstanding loan balance for a...

WASHINGTON - As election time draws closer, the Credit Union Legislative Action Council (CULAC) of CUNA has begun seriously unloading its war chest. CULAC started May with $372,586.22, took in nearly $150,000, and closed the month with $340,899.21 for a total of $179,688.17 worth of disbursements. Bankruptcy conferees were a...

ARLINGTON, Va. - The credit union community is definitely in a period of consolidation, as is the rest of the financial services arena. According to data from CUNA, in 1939 there were 8,036 credit unions in existence with aggregate assets of $200 million and 2.3 million members. Thirty years later,...