Credit Union Management

Around Valentine’s Day three years ago, holders of auction rate securities fell completely out of love with the debt instruments, causing a market freeze and a slew of lawsuits against the banks with claims of misrepresentation. The fallout continues.

After hearing both sides, a Financial Industry Regulatory Authority panel recently denied all claims made by the estate that was seeking more than $2 million against an investment adviser that worked for a broker-dealer acquired by SECU Brokerage Services Inc.

It now looks like it could take until the third quarter for the Iowa Credit Union League, its processing affiliate and the National Cooperative Bank of Washington to finalize a plan to dissolve Iowa Corporate Central Credit Union and morph its correspondent services into the bank.

A new report said that the majority of the world’s retail banks have no plans to use social media in any way.

For advancement and future growth of the credit union movement, it is time we usher in a new era of collaboration and innovation among today’s young credit union professionals, CEOs and senior executives.

Xtend Inc., a Grand Rapids, Mich.-based CUSO, said it has signed three more users of its remote compliance monitoring service.