News

In a sign that the economy may be picking up, the gross domestic product increased at an annual rate of 3.5% in the third quarter, according to advanced estimate released today by the Commerce Department.

Security Service Federal Credit Union said it recently upgraded 10 application suites in its FIS Systematics core processing platform as a key part of its 10-year information technology strategy plan at Texas' largest credit union.

Credit unions would have the chance to do more business lending as a result of a bill that is being debated and is expected to pass by the House today.

Jack Henry & Associates Inc. is buying Pemco Technologies, a provider of card and payment processing solutions to about 235 financial institutions, primarily credit unions.

Senate Banking Committee Chairman Christopher Dodd (D-Conn.) and Sen. Johnny Isakson (R-Ga.) are expected to announce an agreement to expand the tax credit for first-time home buyers.

Three credit union executives and a former NCUA chairman will testify at tomorrow's hearing on revamping the rules on overdraft protection programs.