News

The NCUA announced today it has served 18 former U.S. Central FCU directors and officers with demand letters, alleging their breach of fiduciary duty contributed to the failed corporate's losses.

The NCUA yesterday liquidated the $139 million Southwest Community FCU of St. George Utah after the credit union failed to improve its financial position.

Auto service provider GrooveCar has launched an iPhone/iPad app that helps connect members looking to purchase and finance a vehicle with credit unions.

Nearly $500 million in the SBA's Patriot Express loans have been approved by credit unions and other lenders to help military veterans, reservists and their spouses start and expand their businesses.

Chartway Federal Credit Union, headquartered in Virginia Beach, will press its out-of-state expansion arrangements with NCUA, according to its CEO Ronald Burniske.

Eight months after placing First Delta FCU into conservatorship following several quarters of difficulties, the NCUA yesterday merged it with Shreveport FCU.