News

U.S. Central Federal Credit Union, currently under NCUA management, reported a nearly half a billion other-than-temporary impairment loss for the fourth quarter, bringing charges for the year to $1.8 billion.

The Alogent brand of branch and remote deposit solutions is being revived by Jack Henry & Associates.

Assets, loan volume and net worth increased at credit unions last year, but there were significant problem areas such as a rise in the delinquent loan ratio and a decline in the loan to share ratio, according to data released today by the NCUA.

Bolstering its advocacy role, the North Carolina Credit Union League announced Monday it is moving its headquarters from Greensboro, where it has been since its 1934 founding, to Raleigh, the state capital, by April 2011.

Credit unions based in the Brooklyn borough may be able to form more relationships with small businesses who say the cost of insurance is among the top reasons hampering their growth.

The NCUA is working on making changes to the process by which it undertakes mergers and purchase and assumptions but will continue to not allow all potential partners to review proposals.