News

The $415 Million Smart Financial Credit Union has rolled out instant issuance for debit cards.

Mandating that credit unions pay into a fund aimed at rescuing large financial institutions isn't equitable and would hurt credit union members, NCUA Chairman Debbie Matz wrote in a letter to House Financial Services Committee Chairman Barney Frank.

Credit unions could be part of a new $500 million initiative to bolster small businesses through a program created by Goldman Sachs Group Inc. and co-chaired by billionaire Warren Buffet.

John Walsh, who served as chief financial officer of Affina Brokerage Services LLC, has pleaded guilty to embezzling more than $2.5 million from USAlliance Federal Credit Union, which owns the subsidiary.

In another sign that the economy hasn't completely turned around, housing starts fell 10.6% in October, following two months of increases, according to a report issued today by the Commerce Department and the Department of Housing and Urban Affairs.

Outstanding loan balances increased 1.2% during the third quarter and share balances increased 8.8% through September, according to analysis of aggregated 5300-call reports by Callahan & Associates.