Sometimes timing is everything. For the $700 million Detroit Edison Credit Union, the unfortunate collapse earlier this year of the $250 million Huron River Area Credit Union in nearby Ann Arbor just happens to fit neatly into its strategic expansion for branches and new members.
Filene Research Institute has released a study, Cooperative Comebacks: Resilience in the Face of the Hurricane Katrina Catastrophe, which examines how credit unions fared in the wake of the disaster.
WASHINGTON -- The hope that a White House and Treasury Department backed plan to defer escalating mortgage foreclosures by temporarily freezing teaser rates before they reset isn't perceived as workable or nearly sufficient by investors and mortgage analysts.
Upon NCUA's announcement of a 9.85% hike in the federal credit union operating fees at the recent November board meeting, NAFCU pointed out that the figure only accounts for the average credit union. The fees could range from 9.85% for a federal credit union with $1 million in assets to...
Working with consumer groups and members of Congress, NAFCU said that a compromise it sought over H.R. 3609, the Emergency Home Ownership and Mortgage Equity Protection Act, allowing bankruptcy judges to alter mortgages shall be limited to subprime and non-traditional loans, was included in a manager's amendment at mark up.
