News

When it comes to getting the cap on member business lending being raised, credit unions suffered another setback when the draft of the Senate job creation bill didn't include a provision that would accomplish that.

Though credit unions lost a battle over student loans in the House, they may have another chance to prevail in the Senate.

The Association of Corporate Credit Unions members will make big decisions on the organization's future at CUNA's Government Affairs Conference, said Executive Committee Chairman Steve Roy.

The NCUA clarified Constitution Corporate Federal Credit Union's regulatory status to the Credit Union Times, saying the $1.3 billion corporate is not under conservatorship, nor has it received a capital infusion or any other new financial support.

World Council of Credit Unions announced Feb. 1 that it will collect and present credit union input to the Basel Committee on Banking Supervision, which will make revisions to the Basel II Accord this year.

In a turnabout, the $481 million Velocity Credit Union of Austin, Texas has decided against switching coverage from the NCUA to a private carrier, American Share Insurance of Ohio.

The NCUA Board has approved changes to the agency's regulations to allow eligible credit unions to use capital they might access from the Troubled Asset Relief Program.

Starting March 1, credit union members in specific employee groups will be able to take advantage of an additional price incentive by getting their vehicle loans at a credit union.