News

Speaking several hours after the announcement of an unemployment rate of 8.7%, President Obama today announced a new program to make it easier for jobless to get training so they can qualify for better jobs.

The continuing problems of the economy in general and the housing market in particular have again taken their toll on Fannie Mae, which reported a $23.2 billion loss for the first quarter.

Unemployment rose to 8.9% in April-the highest level since September 1983-as businesses cut 539,000 non-farm jobs, the Department of Labor reported today.

NCUA Vice Chairman Rodney Hood said although there are already "good examples" of CUSOs providing payday lending alternatives, he is hoping credit unions will create a national solution to payday lending alternatives.

Westerra Credit Union of Denver announced today it expects to top $1 billion in assets and 88,000 members by July 1 when it finalizes a merger with $163 million Jeffco Schools CU of Lakewood; Jeffco members approved the merger Thursday.

The $3 billion Teachers Federal Credit Union has partnered with MEMBERS Trust Co. to offer a reverse mortgage program to its members.