News

The NCUA needs to make major improvements in its computer security, including better security configurations, and disaster contingency planning, according to a report released by the agency's Office of Inspector General.

In a phrase, the $810 million Arkansas Federal Credit Union, the state's largest, has "stuck to its knitting," ending 2010 by meeting a five-year goal to double assets, its CEO reported Friday.

More than a thousand natural person credit unions using WesCorp or Southwest Corporate for branch capture solutions are being offered free upgrades and transition services from the software provider.

The NCUA said today that on Nov. 30 it will liquidate Constitution Corporate FCU, one of the three coporates it conserved in September.

WesCorp's management didn't manage risk well and invested too heavily in residential mortgage backed securities while NCUA examiners failed to "adequately and aggressively" address the risks.

Small businesses in Multnomah County in Oregon will receive a $10 million boost thanks to a new program that includes several credit unions and banks.