News

U.S. Central's February 2009 financials report a net income of $6 million; however, the month's additional $700 million in unrealized losses increases the corporate's running total to $6.6 billion.

ALEXANDRIA, Va. - Edgar Callahan was such an important person in the history of the credit union movement that his service to it might continue in Heaven, NCUA Chairman Michael E. Fryzel suggested yesterday.

Saying that stress tests revealed "an unacceptably high concentration of risk," the NCUA today placed U.S. Central Federal Corporate Credit Union and Western Federal Corporate Credit Union into conservatorship and removed their boards and top executives.

Since the Invest in America program went nationwide in January, it has generated 57,000 car sales, with 80% of those sales financed by credit unions.

American consumers used their credit or debit cards to purchase food from quick services restaurants more last year than during any other time in history, according to cardtrak.com, a Web site that tracks card trends and data.

Persons interested in attending NCUA's June symposium on the 75th Anniversary of the Federal Credit Union Act can now register.