News

The Michigan Office of Finance and Insurance Regulation has stopped a $5 million Ponzi scheme involving an independent contractor licensed through CUSO Financial Services LP who worked from MidWest Financial Credit Union.

NCUA announced this afternoon that it has liquidated the $2.5 million Lawrence County School Employees Federal Credit Union, which had been headquartered in New Castle, Pa.

The National Credit Union Administration has extended the expiration date of the Temporary Corporate Credit Union Share Guarantee Program another quarter, through June 30, 2012.

With an eye on making banking easy and convenient for members, Michigan First Credit Union has added a Twitter alert to its personal finance management toolkit.

Severe winter weather in parts of the country coupled with continued unease about the economy caused a 7% decline in pending home sales, according to the National Association of Realtors.

The applications that low income credit unions will have to fill out to participate in the U.S. Treasury's Community Development Capital Initiative will only be two pages long, according to NCUA and Treasury officials.

If and when the Federal Reserve gets around to requiring financial institutions to notify their customers at an ATM that they are about to overdraw their account, at least one ATM manufacturer says it will be ready.

Plagued with losses and the inability to turn a profit, the $851 million Arrowhead Credit Union said it has sold its insurance subsidiary, Sawyer Cook Insurance.