News

Marking a new phase in league co-operation, the Michigan and Illinois credit union leagues disclosed Monday they have signed a strategic alliance agreement to collaborate on membership and product development.

Despite nine consecutive months of loan portfolio contraction, member business loans continue to be among those outpacing other credit union lending categories.

Championing the preservation of the federal tax exemption for all credit unions topped the list of 2011 priorities NAFCU disseminated on Wednesday.

Thanks in part to advocacy ads hitting on ownership, Michigan credit unions enjoyed a sharp membership run-up in 2010 with prospects hopeful for more of the same in 2011, according to the Michigan Credit Union League.

Commenting on FinCEN's proposed rules on cross-border electronic transmittals of funds, NAFCU asked the agency to consider the regulatory burden, the amount of information it already receives and the security issues involved.

The Members Group is offering a downloadable white paper on what it says may be the inevitable demise of magnetic-stripe cards in favor of the EMV global payments standard.