News

Credit unions had $236.8 billion in outstanding consumer credit in May, up from $235.8 billion in April, the Federal Reserve reported today.

Citing economies of scale, the $61 million Desert Energy Credit Union of Tucson, Ariz., has agreed to a voluntary merger with the $330 million Pima FCU.

First Tech Credit Union and Oregon Community Credit Union joined forces with brass|MEDIA Inc. to provide free personal finance resources and instructional materials to Oregon students and teachers.

Nine credit unions from six states shared $17.15 million that the U.S. Treasury Department has awarded to credit unions out of the most recent round of funds.

Federal credit unions could be subject to additional subpoenas for information from state attorneys general as a result of a U.S. Supreme Court decision issued last week.

Fraud connected to mortgage applications helped push overall filings of suspicious activity reports by financial institutions to a record level, according to the Financial Crime Enforcement Network.