News

Credit unions and other lenders have received word that the SBA has reactivated the Recovery Act queue to possibly approve more loans if additional funding becomes available.

The $171 million Pelican State Credit Union of Baton Rouge said it expects a July 1 merger of the $1.9 million Lake Charles Telco CU in a move that will provide the Baton Rouge CU greater entry into the Lake Charles market.

The nation's Gross Domestic Product increased to an annual rate of 3% during the first three months of 2010, that's less than the 3.2% original estimate, the Commerce Department reported today.

CUNA is pulling out all the stops to block interchange language from being included in the final financial regulatory bill now slated to go before House-Senate conferees.

The industry's assault on the Durbin interchange amendment is taking advantage of social media vehicles as well as newfound collaboration with banker groups in trying to secure lawmaker support in the House-Senate conference committee.

Viewpointe said it has added $2.8 billion Corporate America Credit Union of Irondale, Ala., to its Internet image exchange network.

The Obama administration put its support for raising the cap on member business loans to as much as 27.5% assets in writing yesterday.

A bill to allow New Jersey credit unions for the first time to become eligible public depositories for public funds successfully passed the Senate Commerce Committee Thursday on a 3-1 vote with one abstention.