News

As the SBA gears up for its annual festivities honoring small businesses, credit unions could once again be among the candidates recognized for their lending efforts.

The NCUA placed Tracy Federal Credit Union of Tracy, Calif., into conservatorship late last Friday.

The Credit Union Association of Wyoming, a 25-member group, is calling off a formal merger with the Credit Union Association of Colorado.

One of Arizona's troubled and undercapitalized credit unions, the $370 million AEA FCU of Yuma, acknowledged Monday it is closing a branch, downsizing staff and "put out merger feelers" but is still prepared to go it alone in 2010.

The average yield for interest-bearing rewards checking programs of credit unions and banks is now at 3.3%, according to a new study issued by Bankrate Inc. the Florida-online research firm.

Large banks may be in survival mode now, but "once they get their TARP funds back" these competitors will become more challenging than ever to credit unions, former NCUA chairman Dennis Dollar warned California/Nevada CU leaders late Friday.