News

CUNA Strategic Services has teamed up with the ICUL Service Corp to help the CUSOs credit union clients better market their pre-paid card programs.

The Center for Responsible Lending, a subsidiary of the Self Help Credit Union, has released a report condemning practices that some of the largest card issuers have adopted, the Center alleged, to avoid the practices banned by new card regulation.

The merger completed this month of a $47 million Eureka, Mo. credit union into the $628 million Vantage CU of St. Louis has worked out dandy for the financials, but it's another story when it comes to the computer conversion.

As President Obama met with bankers today to discuss how they can help small business recover, CUNA President/CEO Dan Mica continued to reiterate that credit unions are doing their part and could be doing much more.

New accounting standards proposed by the Financial Accounting Standards Board include a requirement to value whole loans using fair value requirements, like those currently used by corporates to value distressed mortgage-backed securities.

Credit union members and others will cling to their savings habits well into 2010, according to a company that tracks direct mail credit card efforts.

Consumers continued to open up their wallets last month as retail sales increased 1.3%, following a 14% increase in October, the Commerce Department reported today.

The NCUA approved a charter for the East River Development Alliance Federal Credit Union in Queens, N.Y.