News

Despite backing by Missouri lawmakers, those 10 small highway credit unions remain under orders to close their offices in two years and have their 27 employees cut from the payroll Sept. 30, state officials reported today.

The Regional CUSO Alliance, an association of member business lending CUSOs, said the proposed elimination of personal guarantees would cripple underwriting and punish those credit unions that have not "excessively abused their privileges."

Federal accounting rules for nonprofits may be among the challenges preventing the NCUA from simply adopting the structure of FDIC's March 5 securitization of toxic bank investments.

Using a cooperative list serve network, Mississippi credit unions are banding together this week to raise funds to help victims of last Saturday's devastating Yazoo City tornadoes.

PSCU Financial Services is the first CUSO to start offering participating credit unions the Visa Transaction Alert service, according to a Visa executive.

At PSCU Financial Services Annaul Forum former NCUA Board Chairman Dennis Dollar strove to find the better side of a number of different challenges facing credit unions today.