News

WASHINGTON - Two years after federal regulators first accused Fannie Mae of serious accounting problems and earnings manipulation to meet Wall Street targets, and the Securities and Exchange Commission ordered it to restate earnings back to 2001, Fannie Mae's accounting nightmare apparently isn't over yet.

TUKWILA, Wash. - Prime Alliance Solutions used its recent symposium earlier this month to present awards to several credit unions, mortgage CUSOs and lenders that do business with credit unions in recognition for their efforts to help credit unions become better mortgage providers for members.

BROCKTON, Mass.-The $1.3 billion HarborOne Credit Union has received recognition from immigrants from Cape Verde, an archipelago in the North Atlantic west of Senegal that has about the land area of Rhode Island.

WASHINGTON - Tightening liquidity fueled by decreasing member deposit growth and increasing loan demand has heightened credit unions' vulnerability to balance sheet risk. The secondary market, offered Callahan & Associates in a recent Webinar, is positioned to help CUs mitigate that risk while giving them the opportunity to increase liquidity.

There were a few key conferences held recently and Credit Union Times was there to provide on-site coverage. See conference coverage on pages 26-27 and page 50.

Credit unions are still waiting for full-blown image exchange to take off, but many are finding substantial cost savings in forwarding items electronically. Pages 22-24.