News

The merger rhetoric on bridge corporates continued to percolate Monday with David Chatfield, the new head of a West Coast task force on the subject, suggesting three already conserved corporates be consolidated.

NCUA Chairman Debbie Matz is now scheduled to testify on the state of the credit union industry at 10:00 a.m. on Thursday, the Senate Banking Committee announced today.

The $115 million United Financial Credit Union of Bridgeport, Mich. is merging the $34 million Consumers Choice CU of nearby Saginaw on Jan. 1.

Two more credit unions have signed up as users of the XetusOne loan origination platform from Xetus Mortgage Corp. of Palo Alto, Calif.

CO-OP Member Center is marking its first year as a CO-OP Financial Services subsidiary, a year in which it added credit union clients in 16 states and the District of Columbia, the big CUSO said.

Even though last year's financial reform package reduced debit card interchange for big financial institutions, an consultancy that specializes in financial institutions says smaller institutions will also take a hit.