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Credit Union Member Sues CU Alleging Negligence in Security Sales

By David Morrison

A credit union member in Florida has filed a federal suit against the $750 million IBM Southeast Employees Credit Union, alleging that a former broker-dealer firm that sold her investments was "nothing more than a bucket shop rife with fraud."

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July 05, 2009

State Leagues Trumpet New Member Gains

The industry's drumbeat of new memberships and loan business stemming from banking's troubles and the flight to safety picked up new momentum last week with two state leagues, Washington and Mississippi, crowing about membership gains.

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July 01, 2009

CUT Closed for Fourth of July

Credit Union Times will be closed for the remainder of today and all day tomorrow to observe the Fourth of July holiday.

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July 01, 2009

Unemployment Rate Rises Slightly

Unemployment rose to 9.5% in June but businesses continued to cut positions, shedding 67,000 non-farm jobs, the Department of Labor reported yesterday.

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July 01, 2009

NAFCU Offering Webcast on Credit Card Legislation

Credit union employees interested in learning about how to comply with the recently enacted measure revamping credit card rules can register for NAFCU's July 15 webcast on the subject.

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July 01, 2009

Hope Community Completes American Savings Merger

New signage is going up today on multi-state branches of the old American Savings Credit Union of Memphis, which was formally merged this week into Hope Community Credit Union, of Jackson, Miss. now with $117 million in assets.

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July 01, 2009

Small Biz Recovery Loan Program Off to Slow Start

While the SBA expected a new program offering deferred payments and no fees to be in huge demand, only $4.6 million loans have been funded since the recovery effort was launched on June 15.

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July 01, 2009

Pending Home Sales Increased in May

The housing market continued to show signs of improvement as pending home sales increased 0.1% in May, the National Association of Realtors reported yesterday. It was the third consecutive monthly rise.

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Top News Stories

Credit Union Member Sues CU Alleging Negligence in Security Sales

CU*Answers Attracts 195 to Annual Conference

&#039;Where Are New Charters?&#039; Asks Ex-League Head

Recommended Just For You

News Stories

State Leagues Trumpet New Member Gains

CUT Closed for Fourth of July

Unemployment Rate Rises Slightly

NAFCU Offering Webcast on Credit Card Legislation

Hope Community Completes American Savings Merger

Small Biz Recovery Loan Program Off to Slow Start

Pending Home Sales Increased in May

'Where Are New Charters?' Asks Ex-League Head