News

Education-focused financial services company Sallie Mae announced Monday that it will begin offering no-fee student checking accounts into which colleges and universities can directly disburse financial aid and tuition refunds owed to students.

Pushing back against what he says is one of the most expensive lobbying efforts by big banks, Senate Majority Whip Richard Durbin (D-Ill.) said today that credit unions and small banks were being used by larger financial institutions.

Despite the big rise in airline fares, conference attendance appears headed for an uptick this spring with both CUNA and NAFCU projecting gains for their major conclaves following acceptable turnouts at more recent events including CUNA’s Washington Government Affairs Conference.

For all the hits that some banks have received for scaling back their business lending efforts, they are the Small Business Administration’s most active 7(a) loan program lenders.

Federal credit unions can reimburse associate and emeritus directors for training and training-related expenses if they are relevant to the position and if the person’s service to the credit union isn’t merely honorary.

The relief effort by credit unions to aid victims of the Japanese disaster continued this week with Western Bridge Corporate waiving international wire fees for CUs acting on behalf of their members.