News

New Orleans -- If a $1 billion credit union borrowed $100 million in strategically laddered advances, and invested those funds in low-risk mortgage pools, it could add as much as $600,000 to interest income.

Extensive investments in collateralized debt obligations, unrealistic growth patterns that went unchecked and the failure of state and federal examiners to realize the risk of certain practices all helped cause the failure of Eastern Financial Florida CU.

In addition to Louisiana, the SBA said it is making economic injury loans available to small businesses near the Gulf of Mexico in Alabama, Mississippi and Florida impacted by the Deepwater BP oil spill.

Using technology called augmented reality, Addison Avenue Federal Credit Union is the first U.S. user of a new tool that allows members to visually locate ATM machines with an iPhone.

Alliant Credit Union and Continental Federal Credit Union said they see a merger between United Airlines and Continental Airlines as a prime opportunity to serve even more members.

The $1.9 billion Lake Michigan Credit Union is merging with the troubled $62 million Citizens CU of Kalamazoo, giving the Grand Rapids CU an expanded entry into the Kalamazoo market.