News

The 15-item list of practices determined by the Florida Office of Financial Regulation to be unsafe for the Eastern Financial Florida Credit Union's continued existence runs the gamut.

Unemployment rose to 8.5% in March-the highest level since November 1983-as businesses cut 694,000 non-farm jobs, the Department of Labor reported today.

Credit unions are capable of handling the corporate crisis on their own "without asking for a government bailout," according to the outgoing chairman of the Missouri Credit Union Association, Betty Clark.

Up against a series of fast-approaching deadlines, Eastern Financial Florida Credit Union is working to comply with a cease and desist order of unsound and unsafe practices, said the Florida Office of Financial Regulation.

Natural person credit unions no longer need corporate credit unions in their current form, Navy Federal Credit Union President/CEO Cutler Dawson wrote the NCUA.

Altura Credit Union announced that it will cut 35 jobs, close two branches and transition a third branch to an electronic branch.