Credit Union Times | Accurate and Timely CU News

NCUA Shutters Community One FCU

By Claude R. Marx

The NCUA announced today that it had closed down Community One FCU of Las Vegas and its assets and shares were purchased by America First FCU.

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Calif. CU Persists in Donations

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Corporate America Unwinding Payments Systems From U.S. Central

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August 11, 2009

League Backs Off Challenge to Regulator

The League of Southeastern Credit Unions is off to a controversial start, after President/CEO Patrick LaPine fired off an Aug. 4 letter to his board members questioning the Alabama regulator's July 31 conservatorship of Mutual Savings Credit Union.

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August 11, 2009

SEC Goes After Unlicensed Calif. Thrift/CU

The SEC has filed a complaint against an unlicensed California savings and loan association that is also registered as a credit union in Sweden for the sale of $9 million in allegedly fake securities.

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August 11, 2009

Peak5 Financial Closes Up Shop

Auto loan servicer Peak5 Financial, formerly Flatiron Financial and Centrix Financial, shut down its business on July 10.

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August 11, 2009

LaPine and Latham Turn Back the Clock

Glenn Latham, head of the Alabama Credit Union Administration, said he was among the first to learn the League of Southeastern Credit Union was questioning his regulatory action against Mutual Savings Credit Union.

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August 11, 2009

IRS Speaks On UBIT Again

Revenues from shared-branching arrangements are among the items subject to the unrelated business income tax, according to an IRS technical advice memorandum.

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August 11, 2009