News

More evidence has come to light that suggests credit unions with more lower income members may take a deeper hit from the upcoming cap on debit card interchange than CUs with fewer lower income members.

Maurice Smith, the president/CEO of the $1 billion Local Government Federal Credit Union of Raleigh is testing something different in his race for the 2011 CUNA Board of Directors--using the Internet to promote his candidacy.

Saying that it is "minimally capitalized and there are no reasonable prospects for the credit union to achieve adequate capitalization," the NCUA today announced it was liquidating Kappa Alpha Psi FCU.

The $1.9 billion Corporate Central Credit Union announced yesterday it has raised $50 million worth of Tier-One capital from members, raising its core capital ratio to nearly 4%.

With all the turbulence surrounding corporates these days, Southeast Corporate is doing its part to remind members of the value they provide.

Outstanding loans increased at a slightly higher rate in June, savings balances declined and share accounts rose slightly, according to a CUNA survey of 400 credit unions.