News

The Iowa Credit Union League has given up on its Federal Reserve bid to buy an Arizona bank to help ease the corporate dilemma surrounding Iowa Central Corporate CU and related cost burdens facing small CUs.

Tony Mook, the former president/CEO of Cumorah Credit Union in Las Vegas, which became a takeover victim last October after suffering steep loan losses, is the new president/CEO of Alta Vista CU in California.

The $4.8 billion San Diego County Credit Union has extended its title sponsorship of the Poinsettia Bowl through 2010, with options for 2011 and 2012.

It could take six to nine months before the Kentucky Supreme Court issues a ruling on a long-standing banker-backed court challenge to field of membership rules impacting Kentucky credit unions, attorneys reported this week.

A paper authored by Card Services For Credit Unions and Callahan & Associates reports that CU credit card delinquency, even in this recessionary year, still dramatically lags where it was a decade ago as proportion of overall CU delinquency.

Recognizing the potential behind the trillion dollar growth in individual retirement account assets, MEMBERS Trust Co. has launched a product that is married with the features of a trust.