News

The economy is likely to experience continued growth next year but there are some "important headwinds" that will "prevent the expansion from being as robust as we would hope," Federal Reserve Chairman Ben Bernanke said today.

Consumers were a bit more willing to open up their wallets last month as retail sales increased 1.4%, following a 1.5% decline in September, the Commerce Department reported today.

Owners of depleted corporate capital aren't likely to get it back, even if loss estimates that supported the write downs were too high, according to a statement issued today from Chairman Debbie Matz.

The $13.5 billion Pentagon Federal Credit has announced that it is the only credit union in the country, at least for now, to issue American Express cards.

Pentagon Federal Credit Union President/CEO Frank Pollack is scheduled to be one of five witnesses to testify at Tuesday's Senate Banking Committee hearing on legislation to restrict overdraft fees.

CUcorp has announced that the Invest in America program has expanded to offer credit union members discounts from FTD and CU Benefits Express.

Dallas-based EDS Credit Union said its Friday purchase/assumption of the long-troubled $98 million Ensign FCU of Henderson, Nev. fits well into its long-term branding strategy.

The Association of Corporate Credit Unions asked the NCUA to reconsider its position on corporate capital write downs during a special Nov. 5 meeting that was closed to the press.