News

On the heels of winning a prestigious industry honor, the $188 million North Jersey Federal Credit Union announced this week it is embarking on a broader community service mission by setting up--for the first time--an in-house foundation.

Effective today, the SBA has permanently increased the 7(a) loan limit from $2 million to $5 million and 504 loans to $5.5 million through provisions under the new Small Business Jobs Act of 2010.

In the wake of reports by some large lenders about problems in their foreclosure review process, the Senate Banking Committee announced today it will hold a hearing when Congress returns next month.

Several credit unions, a school district and state municipalities were among the victims of a $10 million Ponzi scheme run by a Southfield, Mich., investment adviser, according to the FBI.

The head of the Texas Credit Union League renewed his appeal today for industry calm and caution in dealing with the corporate restructuring, suggesting CUs "keep their powder dry" before acting hastily on changing providers.

More than 50 Wisconsin and Illinois credit unions were represented at a recent meeting on risk management that CUNA Mutual held at its headquarters in Madison, Wis.