News

After 40 years of service, Monroe County Community Credit Union President/CEO Paul Assenmacher will retire effective April 1, 2011.

At a time when consumer confidence in banks is low, the building of new branches can help reinforce the image that a credit union is not only stable but focused on growth.

Though mindful of its weakened financial condition, the $6.6 million Mission SF FCU of San Francisco pressed ahead last week with industry fundraising to bring in a minimum $50,000 of capital to stave off a merger or liquidation.

As the new year approaches, many credit unions are looking for new ways to increase profits and become more effective.

Eleven credit unions so far have signed up to deploy person-to-person payments from PayPal through their online and mobile banking sites from global e-commerce provider S1 Corp. of Atlanta.

The approximately 330 credit unions using the Sharetec core processing system will now be offered the personal digital relationship building services of Segmint Inc. of Akron, Ohio, the company said.