News

Political newcomer Rand Paul, a favorite of credit unions and the tea party movement, has won the U.S. Senate seat in Kentucky, according to Associated Press projections.

The National Federation of Community Development Credit Unions has defended a Treasury program from charges that politics played a role in how it distributed money to CDCUs.

Rep. Paul Kanjorski, who has been one of the strongest supporters of credit unions in Congress, was defeated after a 26-year career by Hazleton Mayor Lou Barletta.

The bitter and nasty race for Harry Reid's U.S. Senate seat in Nevada has been a credit union negative on one level: It knocked out all those product ads and positive messaging.

The $1.6 billion Texans Credit Union said it plans to fight against a suit that claims the cooperative's commercial real estate CUSO did not follow through on providing loans for a failed Mississippi project.

The $43 billion Navy Federal Credit Union, on course to complete its merger of the $605 million USA Federal CU of San Diego, is providing new USA Federal members a yearend timeline on the integration process of products and services.

The new head of the California/Nevada Credit Union League, Diana Dykstra, joined the industry chorus Tuesday against CUs making hasty decisions on corporate services, stressing initial system recommendations may be at hand in a matter of weeks.

Reps. Dan Burton and Mike Pence (both R-Ind.) have won re-election, while Democratic senate candidate Rep. Brad Ellsworth lost a race for an open Senate seat, the Associated Press projected.