News

The long-term financial troubles at Nevada’s largest credit union, the $718 million Silver State Schools,, have also been accompanied by recent changes of senior management.

The burden of trade association dues during a rough economy plus internal policy disputes apparently figure in two more disaffiliations disclosed this week.

The $11 million Brooklyn Cooperative FCU has received a $300,000 grant from the Center for Financial Services Innovation to help develop the financial institution interface for a social network savings program.

The Federal Reserve’s proposed rule regulating interchange is unconstitutional and would do “irreparable harm to issuers and consumers.’’

A 263-page report has listed a number of recommendations the SEC should consider to reform the agency’s operations as it appeals to Congress for more funding.

The $641 million Purdue Federal Credit Union reports that an affinity card that it issues on behalf of the Purdue Alumni Association is the leading driver for new CU membership.

Montana First Credit Union President/CEO Chris Sisco is in television, radio and print ads telling the credit union and bank side of the interchange argument.

The NCUA Board plans to discuss and possibly send out for comment to next Thursday’s meeting a proposed rule regulating what steps credit unions would have to take to protect against interest rate risk.