News

The long running campaign by New York credit unions to win lawmaker support for deposit of public funds gained new ground this week with strong backing by both New York City Mayor Michael Bloomberg and Gov. David Paterson.

The Virginia Credit Union League was galvanizing its membership Friday for what it called a full court press to oppose state legislation permitting banks to merge with credit unions and vice versa.

CUNA political strategists say that the U.S. Supreme Court's recent lifting of many limitations on corporate political advertising will not affect credit union political action committee activities.

Virginia Credit Union members and employees are mourning the loss of retired president Dorothy J. Hall, who died this week at the age of 79.

Sources familiar with the National Credit Union Foundation say that Bucky Sebastian is in discussions with the National Credit Union Foundation about becoming its next executive director.

Federal regulators would have the power to limit the size of certain banks and their ability to take certain risks, under a proposal unveiled today by President Obama.

Credit union employees who want to learn how to balance efforts to maximize earnings while not taking excessive risk can participate in NAFCU's Feb. 3 Webcast on the subject.

Credit unions wrote 5% of the nation's mortgages in the third quarter of 2009 and industry analysts anticipate a similarly high number for the year overall.