News

The financial struggle plaguing the $157 million Cumorah Credit Union in Las Vegas can be traced to one big factor: Nevada's commercial real estate bust.

NCUA Chairman Debbie Matz today scheduled a specially focused meeting for Nov. 5 at 2 p.m. to discuss the status of corporate credit unions' capital accounts and other issues related to corporate credit unions.

Based on a Georgia Credit Union Affiliates poll in connection with International Credit Union Day, the recession continues to take its toll of consumer spending habits among Georgians with only 13% looking to spend more now than a year ago.

Even though most credit unions would be exempt from being examined by the proposed Consumer Financial Protection Agency under an amendment passed by the House Financial Services Committee yesterday, CUNA and NAFCU are holding out for more.

U.S. Central Federal Credit Union issued medium-term notes because it's having a liquidity problem, said Charlie Felker, managing director of regulatory affairs for First Empire Securities.

An executive with TSYS says that credit unions are a prime market for its new Program Solutions effort.