News

PricewaterhouseCoopers accountants are crunching numbers at the $1.4 billion Constitution Corporate Federal Credit Union today, working with the corporate's own financial managers to endorse year-end numbers.

Citing a number of violations, the Florida Office of Financial Regulation has issued a cease and desist order against the $1.6 billion Eastern Financial Florida Credit Union for engaging in several "unsafe and unsound" practices.

The recession and its widespread job losses caused a 32 basis point increase in loan delinquencies, according to data released today by the American Bankers Association.

California's real estate problems have resulted in a flood of mortgage-related bills that are well- intentioned but ultimately bad for credit unions, said Bob Arnould, California Credit Union League senior vice president of governmental affairs.

Just as many big bank credit and debit card issuers are cutting back or even eliminating their card rewards programs, credit unions are finding their members are using rewards programs more and differently.

The Pennsylvania Credit Union Association's board has adopted a formal resolution warning it would take "appropriate" legal steps to mitigate the impact of the NCUA's conservatorships of U.S. Central and WesCorp.