News

The accounting firm that reviewed the financials and performed audits of the defunct New London Security Federal Credit Union's records has denied claims that it failed to detect fraudulent activity, an allegation made by NCUA in a March 19 complaint.

Dave Serlo, longtime CEO of PSCU Financial Services and the CUSO's first employee, passed away from the complications of cancer on June 25. He was 63.

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.