News

Closed by last Saturday's tornado heavily damaging its offices, the $8.9 million Woodco Federal Credit Union in Ohio looks to resume skeletal operations today from its new temporary home in Cando CU of nearby Walbridge.

Embezzlement and fraud are among the crimes that caused the NCUA to issue prohibition orders against four credit union employees.

Kim Sponem, president of the $1.4 billion Summit Credit Union, Madison, Wis., has been named CEO-designate making her at 43 one of the youngest women slated to hold the top slot at a major CU.

A group of retailers today sent lawmakers a flyer contending that 99.96% of credit unions wouldn't be affected by an amendment in the regulatory overhaul giving the Federal Reserve the power to regulate interchange fees.

It remains to be seen what impact, if any, the 230 credit unions served by LPL Financial Corp. will feel as the company recently filed with the SEC for an initial public stock offering.

A credit counseling organization has released a survey, which it said contradicts a prevailing image of large numbers of home owners walking away from their mortgages.

Reps. Debbie Wasserman Schultz (D-Fla.) and Kenny Marchant (R-Texas) are asking colleagues to sign a letter to push for the removal of Senate-passed amendment giving the Federal Reserve the power to regulate interchange fees.

Charlene M. Pickhinke, a former MetaBank employee, who pled guilty in July 2009 in a case involving $4 million in stolen CD deposits from credit unions and others, is scheduled to be sentenced this month.