News

Although the funding process is nowhere near complete, it appears that fewer than 100 credit unions may wind up receiving any money from the U.S. Treasury's Troubled Asset Relief Program.

If all goes as planned, there will be 3,000 more active lenders in the SBA's 7(a) loan program by September 2011.

The economy may be struggling, but the summer series of big credit union conferences upcoming in Las Vegas and Chicago seems to be wooing good crowds even though many participants are on tight travel budgets.

A Florida debt settlement firm has agreed to change its name from Clearview Credit back to Debt Reduction America Inc. after Clearview Federal Credit Union filed a trademark suit.

The merger of the $70 million State Central Credit Union of West Allis, Wis. into the $1.5 billion Summit CU is now nearly complete but State Central members won an extra bonus last month recognizing their loyalty-a $5.2 million dividend.

Sam's Club, a subsidiary of Wal-Mart Stores Inc., has launched a national pilot program that will offer small business loans from $5,000 to $25,000 to its members.