News

The president/CEO of a large Michigan credit union has some advice on handling allowance for loan loss calculations: "use a 12-month rolling average instead of 36."

Genisys Credit Union has completed its conversion to the UltraData Enterprise core processing platform, according to Harland Financial Solutions.

The $648 million American First Credit, headquartered in La Habra, Calif., has made more than $14 million in loans to members to help them restructure existing mortgage loans in the face of possible delinquency.

Saying that the economy is "leveling out," the Federal Reserve Board's Open Market Committee announced today that it is leaving target range for the federal funds rate at 0.00% to 0.25%.

Six former credit union employees have been banned by the NCUA from participating in the affairs of any federally insured financial institution.

Some credit unions are considering selling their credit card portfolios to meet income and balance sheet pressures.