News

Chartway Federal Credit Union in Virginia vowed to "move forward" in soliciting more troubled CUs for mergers as it also defended its Jan. 1 NCUA takeover of a Utah CU as an opportunity to "save the culture" and protect identities.

Credit unions and industry organizations are lining up to donate to relief efforts in response to the earthquake that devastated Haiti on Tuesday.

An anti-bank ad and Internet campaign started six months ago by the $343 million LA Financial Credit Union of Pasadena, Calif. was getting fresh attention this week resulting from the public furor over big bank practices.

The Virginia Bankers Association moved ahead this week to formally introduce bills in the state legislature permitting banks to "consolidate or merge" with credit unions and vice versa.

The more than half dozen U.S. credit unions all with historic links to Eaton Corp., the Cleveland-based manufacturer, are one less this month following a merger between Ohio and Illinois CUs.

Credit union employees wanting to learn more about doing business with mortgage buyer Fannie Mae can sign up for the company's Feb. 3 Webcast on its newly revised Selling Guide.

More than 110,000 homeowners have had their mortgages modified or received offers to do that through the government's program, the Treasury Department reported today.

With credit unions growing their membership by an estimated 1.7 million in 2009, industry data suggests that this year is on task to have similar growth.