News

At the end of February, all paper checks will be processed by the Federal Reserve Bank of Cleveland and there will be no such thing as a non-local check, as a result of rules changes approved last week by the Fed's Board of Governors.

Construction spending declined 0.6% in November, according to data released today by the Commerce Department.

With its NCUA Utah merger deal under its belt, the $1.5 billion Chartway Federal Credit Union of Virginia is still bent on scouting out more struggling CUs in the West and Midwest for possible acquisition.

The NCUA filed suit in Los Angeles Superior Court Dec. 30 to replace seven natural person credit unions as plaintiffs in a negligence suit against current and former employees and volunteers of failed Western Corporate Federal Credit Union.

The president/CEO of Chartway Federal Credit Union in Virginia said its New Year's Eve acquisition of a troubled Utah CU underscores the difficulties many CUs have in venturing into big-ticket business lending projects.

Credit union employees wanting to learn more about the technical innovations and challenges for credit unions can attend NAFCU's Technology & Security Conference from Feb. 23-25 in Las Vegas.

New year, new leader at Technology Credit Union.

In the New Year, consumers have said decreasing debt is their number one priority with savings taking a back seat, the National Foundation for Credit Counseling reported Monday in its monthly online survey of 6,100 individuals.