News

The $3.7 billion Corporate One Federal Credit Union is placing full reliance for repayment on monoline insurer Ambac Assurance Corp, bucking the trend of other corporates who have recorded OTTIs on affected securities.

Operating under a state cease and desist order to restore capital, the president/CEO of Bay Gulf CU said his CU remains "open to merger opportunities " but is determined-and has regulator backing-to ride out loan loss problems in the interim.

Mobile banking and online account alerts are now available to the 15,500 members of Greater New Orleans Federal Credit Union.

A survey of 4,000 Americans found that their individual retirement account assets are now greater than in employer-based retirement accounts such as 401(k)s and 403(b)s, according to Cogent Research.

Ongoing Operations said it has added CO-OP Financial Services as the latest part-owner of the Maryland-based provider of business continuity and disaster recovery services to credit unions.

A week after placing $250 million St. Paul Croatian Federal Credit Union into conservatorship, the NCUA on Saturday announced it was liquidating the credit union.