News

According to the FDIC, credit union owned Town North Bank had a tier one capital ratio of only 4.05% as of March 31, the last quarter before the bank sold its card processing division, TNB Card Services.

In response to a trademark infringement suit filed by Michigan First Credit Union, First Michigan Bank said the claims are without merit and it intends to defend its name.

COCC said it has deployed a set of new Internet security appliances at the Avon, Conn., data center where it serves 170 credit union and banks.

Positioning itself for future growth, CUNA Mutual said it has entered into an agreement with institutional investors to issue $85 million in fixed-rate, 20- year surplus notes.

The Connecticut Credit Union League announced this week it is broadening its two-year-old program to aid small credit unions.

The Fair Isaac Corporation has released a revamped edition of its debt collection software that the data company said will be easier and less expensive to deploy and use.