Credit Union Times | Accurate and Timely CU News

Consumer Key to Check Imaging at ATMs

By David Morrison

ARLINGTON, VA -- A combination of expense and a lack of governmental mandate will mean that consumer desire will likely be the final arbiter of whether and when a majority of deposit taking ATMs in the US image their check deposits.

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January 15, 2009

Federation, CDCU Staff, Participate in Financial Hotline

NEW YORK -- Staff from the National Federation of Community Development Credit Unions and other CDCUs based in New York City sponsored financial phone bank designed to help low and moderate income New Yorkers better understand and resolve financial issues.

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January 15, 2009

U.S. Central's IDR Rating More Important to NPCUs, Fitch Says

NEW YORK - Fitch Ratings Senior Director Ken Ritz said natural person CUs concerned about U.S. Central should pay closer attention to the Issuer Default Rating, rather the Individual Rating, which tumbled from an "A" to a "D".

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January 15, 2009

Meriwest CU Pushes 'Loan Workouts' for Ailing Businesses

SAN JOSE, Calif. -- For many small businesses, a lack of cash flow has become such an issue that financial institutions like Meriwest Credit Union are encouraging owners to consider "loan workouts."

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January 15, 2009

Sharp Remains 'Vocal Advocate' on TARP

SAN BERNARDINO, Calif. -- As his own credit union is at last seeing small signs of recovery, the president/CEO of the $1 billion Arrowhead CU vowed Friday to continue being "a vocal advocate" before Congress to channel TARP funds into needy CUs.

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January 15, 2009

Citi and B of A Post Huge Losses

WASHINGTON - The economy continued to take its toll on the banking industry in the final quarter of 2008 as two of the nation's largest banks each posted losses in the billions.

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January 15, 2009