News

VSoft Corp. and PM Systems Corp. are now offering their image capture and online banking platforms as an integrated Web presence for credit unions to present their members, the companies said.

Nine months after the Haiti earthquake, the Pennsylvania Credit Union Association and its foundation are teaming up with Mid-Atlantic Corporate FCU to send a delegation to the country this Monday to assess aid help.

NCUA today placed three corporate credit unions into conservatorship: the $7.4 billion Members United Corporate FCU, the $9.5 billion Southwest Corporate FCU and the $1.2 billion Constitution Corporate FCU.

New securities issued from legacy assets will be guaranteed by NCUA, said Deputy Executive Director Larry Fazio.

NCUA will transfer the legacy assets from five seized corporates into a trust, and securitize them for investors from there.

ALEXANDRIA, Va. -- CUNA President/CEO Bill Cheney said today's actions were a good first step while NAFCU President/CEO Fred Becker said he was pleased and it could have been worse.