News

When it comes to credit unions and public funds legislation, it's been a mixed bag so far this winter with Oregon Gov. Ted Kulongoski ready to sign a milestone industry bill any day that will enable CUs to bid on municipal funds above $250,000.

NAFCU President/CEO Fred Becker downplayed the importance of U.S. Central's fourth quarter $500 million OTTI announcement, which partially impaired the NSUCIF's $1 billion capital note, calling it "nothing new."

Embattled Rep. Charles Rangel (D-N.Y.) said today he is taking a leave of absence from his post as chairman of powerful House Ways and Means Committee, in the wake of having been admonished by the Ethics Committee.

For its efforts with a project that helped 3,520 employees at 80 Wisconsin credit unions better train to offer members investing and saving resources, the state's cooperatives will receive the Governor's Financial Literacy award.

Citing numerous financial problems related to the building of a new headquarters office, the NCUA issued a cease and desist order that Rapid City Telco FCU agreed to.

The $1.2 billion UW Credit Union has announced that it will add a Fannie Mae sponsored mortgage product to its list of loans available to members.