News

Embattled Senate Banking Committee Chairman Christopher Dodd (D-Ct.), whose low approval ratings make him one of the most vulnerable Democrats seeking re-election next year, gets help from President Obama tonight.

After five years on the drawing boards, the Oklahoma Credit Union League finally has its Credit Union House and spanking new $2.2 million Oklahoma City headquarters.

In a move reflective of the trend toward regional state leagues, a coalition of Mid-Continent trade groups is meeting in Oklahoma City to look at forming a CUSO to handle combined accounting and human relations functions.

A web-based program of PrimeWay Federal Credit Union in Houston called "LaidoffinHouston" and offering financial counseling and job help to the unemployed spread this month to Pennsylvania with a copycat venture launched by Erie General Electric FCU.

On a mostly party line vote, the House Financial Services Committee approved a measure to create a new agency to regulate consumer financial products and CUNA and NAFCU expressed concern about the bill.

At a White House briefing yesterday, NAFCU President Fred Becker thanked President Obama for acknowledging the credit union industry's role in small business lending.

Corporate America's lawsuit against U.S. Central Federal Credit Union claims the corporate had counted on selling its impaired investments to the U.S. Treasury Department through the TARP while it was soliciting PIC II conversions from member corporates.

Considering the tech explosion in Twitter, texting, mobile banking and social networking, credit union managers are making a grave mistake in cutting back on strategic planning and training, a Dallas CU marketer/consultant and author maintained.