News

The provisions giving the Federal Reserve the right to set interchange fees came a step closer to reality last night when Senate members of the House-Senate conference committee on financial overhaul accepted an offer made by House conferees.

The $41 million Highgrove Community Federal Credit Union and the $2.7 billion Wings Financial Credit Union have reached an agreement to merge operations.

CO-OP Financial Services' acquisition of Members United Corporate FCU's SHARE SYSTEM ATM and debit card program is complete, the two organizations announced today.

Because of the interchange language, CUNA plans to oppose the financial overhaul bill moving through Congress and is asking credit unions to launch an all-out lobbying effort between now and next week's votes in the House and Senate.

New home sales plummeted in May, dropping almost 33% from the already lowered figures from April and over 18% below where they were at this time in 2009, according to the Commerce Department.

The trend toward regional state leagues advanced anew this month with a proposal by the Credit Union Association of Oregon and the Washington Credit Union League to merge, effective next January.