News

The $327 million Nutmeg State Federal Credit Union in Rocky Hill, Conn., has signed up for share draft processing and image cash letter collection services from Vertifi Software LLC.

The National Federation of Community Development Credit Unions worries that new NCUA examiners may not be trained in the issues particular to the CUs many will be sent to examine.

Longtime FORUM Credit Union President/CEO Gary Irvin has announced that he will retire effective Dec. 31.

Credit unions with credit card portfolios worth more than $1 million saw their balances grow at the slowest rate in the last five years, according to NCUA data.

Credit unions with assets of $40 million or less will in 2011 be exempt from the collection and reporting requirements under the Home Mortgage Disclosure Act, as a result of a rule issued by the Federal Reserve Board.

The $137 million Prime Financial Credit Union, once considered a failed Milwaukee CU and an early victim of the 2009 Central States Mortgage Corp. bankruptcy, has a new CEO, Christine Moczynski.