News

Rep. Brad Sherman, a member of the House Financial Services Committee, urged his colleague who is writing the jobs creation bill to include in it an increase in the cap on member business lending.

The housing market's rebound suffered a setback as pending home sales fell 16% in November, the National Association of Realtors reported today. It was the first decline after nine consecutive months of increases.

Now official with the start of the new year, the newly-formed League of Southeastern Credit Unions is giving "struggling and small" CUs in Alabama and Florida a price break on trade group services.

Another Milwaukee credit union, the $34 million First Service, has fallen victim to last year's collapse of Central States Mortgage Corp., the CU-run CUSO that got into trouble over subprime paper.

The acquisition of the CUMIS Group Limited, once majority-owned by CUNA Mutual Group, was completed on Dec. 31, the company's buyers Canada-based Central 1 Credit Union and Co-Operators Life Insurance Co. said.

Longtime credit union industry veteran Steve Lumm has been tapped to serve as interim president/CEO of Kinecta Federal Credit Union.