News

The National Federation of Community Development Credit Unions announced a new program designed to help New York City area CDCUs offer payday loan alternatives last week.

The 49,000-member Los Angeles Federal Credit Union has partnered with Shop LA, a city-sponsored effort to promote Los Angeles as a retail destination, to launch a Visa card that will triple the rewards points for purchases made in the city.

WASHINGTON House Financial Services Committee Chairman Spencer Bachus (R-Ala.) didnt address specific credit union legislative priorities during his speech at NAFCUs Congressional Caucus, but he commiserated with attendees about the dangers of excessive regulation.

With the average age of members hovering above the mid-40s range, courting a much younger segment has increasingly become a top priority for some credit unions.

Republican presidential candidate and Texas Gov. Rick Perry recently threw his support behind increasing the member business lending cap.

WASHINGTON Two members of Congress used their speeches at NAFCUs Congressional Caucus to deliver news that advances the cause of raising the cap on member business loans.

In recognition of his 25 years of leadership, Gary Oakland, president/CEO of BECU, has been tapped to receive the Mark of Excellence Award at the Northwest Credit Union Association convention.

PayPal gave merchants and others a peak at the new payments technology that, it said, will allow it to overcome the dominance of Visa and MasterCard at the point of sale.