News

WASHINGTON -- Casting aside fears of the "moral hazard" of rescuing an investment bank that bet so heavily on mortgage backed securities, the Federal Reserve and US Treasury Department engineered a buy-out of Bear Sterns by JP Morgan Chase for a mere $270 million, or $2 per share.

PASADENA, Calif. -- LA Financial Credit Union is committing its core processing to the Symitar Episys platform from Jack Henry & Associates.

MIDDLETOWN, Pa. -- Mid-Atlantic Corporate Federal Credit Union will soon be running on The Complete Credit Union Solution: DNA, the new core processing system from Open Solutions Inc.

MONTEREY, Calif. -- Credit unions anticipating who will bid on Cal State 9's assets may have to wait awhile, based on talk among Big Valley conference-goers.

HOBOKEN, N.J. -- The Credit Union Times Web site (www.cutimes.com) will be moving to a new server platform today at 5:30 p.m. eastern.

SAN DIEGO -- Though workers' compensation premiums in California aren't as high as they used to be, CUSIG Chair Virginia Wade still drew hearty cheers when she announced 2008's premium rate of $.99 per $100 of payroll at the groups annual meeting yesterday.