Credit Union Times | Accurate and Timely CU News

CUNA Mutual 401(k) Plan Receives Top Honors

By Michelle A. Samaad

MADISON, Wis. -- CUNA Mutual Group said its retirement plan service division has received top rankings in the 2008 401kExchange survey of 401(k) plan sponsors.

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ING Backs ShareBuilder

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Quelling Members' Fears Growing Part of Advisers' Role

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January 29, 2009

Investment Adviser Charged with TARP Fraud

WASHINGTON -- The SEC charged Gordon B. Grigg for allegedly defrauding clients out of at least $6.5 million and misrepresenting that their money was invested in the federal government's Troubled Asset Relief Program and other securities that do not exist.

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January 28, 2009

401k Holders Keep Contributing, Hardship Withdrawals Trend Up

BOSTON -- While employees continue to contribute to their 401(k) plans, the average workplace savings account balance dropped 27% in 2008 to $50,200 from $69,200 in 2007, according to Fidelity Investments.

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January 27, 2009

Modular Is the New Green

ST. LOUIS -- Thinking about building green? Design/build firm NewGround suggested that credit unions start going modular rather than traditional.

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January 27, 2009

Despite Massive Layoffs, ING Committed to ShareBuilder

WILMINGTON, Del. -- ING DIRECT said it is moving forward with its plans to grow ShareBuilder Corp., the online brokerage with roughly 50 credit union clients despite grim news from its parent company that 7,000 job cuts are coming.

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January 27, 2009

SEC Finds Another Ponzi Scheme

WASHINGTON -- Instead of 20% returns guaranteed to come every 30 days, investors lost at least $25 million in yet another Ponzi scheme.

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January 26, 2009

CUNA Mutual, FIS Team Up On Card Fraud Product

JACKSONVILLE, Fla. -- Call it a sign of the times, but the insurer for the majority of credit union and the processor for the majority of CU card programs have teamed up to make card fraud loss claims easier to file.

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January 25, 2009