News

Credit union core processing is now a five vendor game. Read about that and more in the special report on pages 22-31.

NEEDHAM, Mass. -A new study by the TowerGroup on the credit union data processing market concludes that credit unions are more willing than commercial banks and thrifts to replace their core systems. "This willingness can be attributed in part to the CUs' need to offer new functionality and in part...

WASHINGTON - The $145 million Share Plus Federal Bank, headquartered in Plano, Texas, was the Share Plus Federal Credit Union until its membership voted in July of 2004 to move to a mutual bank charter. Now a publication from America's Community Bankers called Today's Mutual Community Banks, highlights the former...

FRISCO, Texas - Fiserv has been good for IntegraSys any way you cut it, says IntegraSys President Scott Butler. Butler says EDS' lack of commitment and investment when IntegraSys was still part of the mammoth IT firm, was starting to wear thin on IntegraSys' credit union clients. But things have...

ALEXANDRIA, Va.-Federal credit unions may provide members an advance in anticipation of a deposit to be made, according to a recent legal opinion from NCUA. NCUA Associate General Counsel Sheila Albin recommended that the credit union, however, consider individual and aggregate limits and address any other safety and soundness issues....

WASHINGTON - Proponents of credit unions taking on mutual bank charters will sometimes make the point that mutual bank depositors have similar rights. For example, they elect directors and participate in a mutual organization and, if the organization converts to a stock issuing bank, they vote in that decision as...