News

WICHITA, Kan. -- Expected but still comforting, Kansas credit unions over the weekend heard directly from some of their most loyal lawmakers who came to their defense in the just concluded confrontation with the banking lobby over a "compromise" July 1 law restricting field of membership expansion.

SAN FRANCISCO -- The bidding interest by credit unions into merging the failed $339 million Cal State 9 CU of Concord, now in NCUA conservatorship, appeared to be spiking Monday with at least one large Illinois CU, the $3.6 billion Citizens Equity First reportedly now in the fray.

FRESNO, Calif. -- Dr. Stan Louie, chairman of the supervisory committee at $108 million United Local Credit Union, confirmed that members voted 219 to 29 in favor of removing suspended board member Tom Rotella during a special meeting on Tuesday, April 22.

WASHINGTON -- The ranks of supporters of the Credit Union Regulatory Improvements Act grew Thursday when Rep. Todd Akin (R-Mo.) became the measure's 149th co-sponsor.

WASHINGTON -- Based on feedback from credits unions and other lenders, the Small Business Administration has agreed to grant a 45-day extension for implementation of the newly-streamlined Standard Operating Procedure.

QUINCY, Mass. -- Quincy Credit Union said it will be converting to the newest release of Open Solutions Inc.'s core processing system for credit unions.