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D. Henry Blevins, managing director at Crews & Associates, said credit unions should be concerned unexpected gains from securitized corporate assets would not be returned to their balance sheets.

The NCUA is engaged with two audit firms to ensure transparency of the agency's financial statements in full compliance with new accounting rules, Chairman Debbie Matz announced today.

The Senate today started what could be several weeks of debate on legislation that would overhaul the regulation of financial services.

Despite backing by Missouri lawmakers, those 10 small highway credit unions remain under orders to close their offices in two years and have their 27 employees cut from the payroll Sept. 30, state officials reported today.

The Regional CUSO Alliance, an association of member business lending CUSOs, said the proposed elimination of personal guarantees would cripple underwriting and punish those credit unions that have not "excessively abused their privileges."

Federal accounting rules for nonprofits may be among the challenges preventing the NCUA from simply adopting the structure of FDIC's March 5 securitization of toxic bank investments.

Using a cooperative list serve network, Mississippi credit unions are banding together this week to raise funds to help victims of last Saturday's devastating Yazoo City tornadoes.

PSCU Financial Services is the first CUSO to start offering participating credit unions the Visa Transaction Alert service, according to a Visa executive.