News

World Council of Credit Unions has produced a new Model Regulations for Credit Unions, a companion piece to WOCCU's 2005 Model Law for Credit Unions.

The industry saw an unusual, late-year surge of 367,000 members in the fourth quarter last year, allowing credit unions to cap off 2007 with a total of 89.7 million members, according to the latest Credit Union Trends Report from CUNA Mutual Group.

A brand new police credit union--The Finest Federal Credit Union--is in the process of being created with the help of Chicago Patrolmen's Federal Credit Union, Delaware State Police Federal Credit Union, and Police Federal Credit Union.

California Coast Credit Union Pres-ident/CEO Jim McPheters is retiring effective April 1, 2008.

Envision Credit Union said it has reduced monthly teller activity reporting from 20-plus manual labor hours to less than 10 minutes in the year because of business intelligence software from Cognos Inc.

Mortgagebot, a provider of online mortgage-origination solutions to credit unions and banks here, finished 2007 with record number of clients, market penetration and volume on its Mortgagebot PowerSite solution.