News

While affirming its confidence in corporate credit unions, CO-OP Financial Services yesterday also made it clear that it was willing to offer its services to help CUs move to alternate payment processors.

The $2.2. million Thurston Union of Low Income People Credit Union, headquartered in Olympia, Wash., is celebrating a $75,000 loan from the U.S. Treasury's Community Development Financial Capital Initiative.

NCUA Chairman Debbie Matz is using NASCUS' annual conference, which begins tomorrow, as the venue of her first speech since the agency unveiled the new corporate credit rule and its legacy asset plan.

The NCUA Board today issued orders prohibiting two former credit union employees from participating in the affairs of any federally insured financial institution.

Poor decisions by management caused the failure of Ensign FCU and Clearstar Financial CU, which cost the NCUSIF $42 million, according to reports by the NCUA's Office of Inspector General.

Bank of America and United Midwest Savings Bank are the first financial institutions to assemble SBA 504 first mortgage pools to be sold on the secondary market, the agency said today.