News

To stop what some critics consider a vicious and exorbitant trap found with many payday loans, Veridian Credit Union is launching an alternative that not only provides emergency cash, but helps users save for the long term.

The Augusta-based Maine State Credit Union announced its successful merger with Greater Waterville Area Federal Credit Union.

With heightened opposition from the banking lobby and labor groups to Wal-Mart's entry into retail banking, the Federal Deposit Insurance Corp. appeared ready last week to extend its moratorium for another six months on the retailer as well as Home Depot stores from chartering industrial loan banks.

The $508 million New England Credit Union, headquartered in Williston, Vt., has begun fielding member calls as the Vermont State Government announced that one of its servers that contained personal information for about 70,000 current and former Vermonters has been compromised.

Credit Union 24, the only credit union-owned POS network, processed almost 200 million transactions in 2006, the network said. It also signed on 23 new CUs and saw a new one-month transaction record. CU 24 added that the month of December helped establish a new transaction record, showing more than...

The $570 million San Mateo Credit Union, headquartered in Redwood City, Calif., has chosen Lynxgate Solutions to provide an ATM management system, Lynxgate has said. The CU will use the CAT ATM management suite, a product of Fiserv, Inc, to manage its 18 ATMs.