News

As expected, the Iowa Bankers Association, joined by the American Bankers Association, is mounting a challenge to the Federal Reserve application of the Iowa Credit Union League to buy an Arizona bank.

Credit unions can and should persevere in building both revenue and membership during this economic downturn.

Some of the alleged victims of David K Henke, the former CEO of the $6 million Rapids Municipal Credit Union, felt cheated on Nov. 2 when he failed to appear to answer embezzlement charges. Little did they know that he had already committed suicide

Affluent investors said they have moved significant amounts of their retirement money around over the past year in a search for better value, personalized advice and a financially-sound provider.

Members of United Nations Federal Credit Union have flocked to the cooperative's investment subsidiary office in Geneva, Switzerland, which marked its one-year anniversary yesterday.

The NCUA is closely monitoring Ensign Federal Credit Union, which recently told the agency that its liabilities exceed its assets.

The NCUA's planned draft rules on the structure of corporate credit unions and the political outlook for the 2010 elections figure to be heading the agenda for the annual American Association of Credit Union Leagues conference.

The SBA said it is working with President Obama and Congress to obtain funding to continue the agency's 7(a) program's 90% loan guarantee and fee reductions, which are set to last into December.