News

The NCUA's contentious denial last week of a federal conversion charter sought by the $654 million Vantage Credit Union of Bridgeton, Mo., could soon head to a federal court, it was disclosed Monday.

NACHA - The Electronic Payments Association said it is now moving ahead with the full commercialization of its new Secure Vault Payments direct payments network.

The $9 billion Members United Corporate FCU announced in a letter to members Sept. 17 it would deliver pink slips to 27 employees, most of whom will leave the organization during the next 30 days.

Akcelerant said it can expand its presence among Symitar-powered credit unions now that it has signed a new partnership agreement with the credit union core processing division of Jack Henry & Associates.

An article in the Hartford Business Journal speculates that the mutual holding company structure, long a popular option for credit unions converting from credit union to bank charters, may be on its way out.

WASHINGTON - The unwillingness of Republicans to raise taxes coupled with Democrats' unwillingness to cut taxes will cause a fierce battle next year, conservative analyst Patrick Buchanan told attendees at NAFCU's Congressional Caucus.