News

NASHIVILLE and SAN DIMAS, Calif. - The nation's largest corporate, WesCorp, and VolCorp announced merger plans earlier this year. The merger took many by surprise given that the $26 billion WesCorp is based in California, and the $1 billion VolCorp in Tennessee. It further proves that geography means very little...

WASHINGTON - The last year has been a busy one for comings and goings in the nation's capital in terms of important people to the credit union movement. In Congress, Representative Randy Cunningham (R-Calif.), a co-sponsor to the Credit Union Regulatory Improvements Act, resigned his position after pleading guilty to...

FEDERAL WAY, Wash. - The ongoing national debate about volunteers gaining wider authority to guide trade group policy appeared to be winding up the year with a Washington State focus. That's because even though the issue of volunteers seeking more leadership clout in national and state trade groups was first...

ALEXANDRIA, Va.-Debate has continued within the credit union movement over whether overdraft programs are appropriate for the member-oriented non-profits. Some, like State Employees Credit Union (Raleigh, N.C.) CEO Jim Blaine, have passionately spoken out against it unless limited, while others point out that it saves members from merchant fees on...

PORTLAND, Ore. - Portland Teachers CU CEO Cliff Dias announced his plans to retire from the $2 billion credit union next May. Dias joined Portland Teachers in 1995 and was named CEO in 1997. He helped grow the credit union from $792 million when he joined, to over $2 billion...

ARLINGTON, Va. - The pace at which credit unions sold their card portfolios and entered into agent relationships with their purchasers started out strong in 2005 but slowed significantly over the course of the year. Rising interest rates provided part of the reason for the slowdown along with the relatively...