News

Credit unions had $240.5 billion in outstanding consumer credit in September, down from the revised figure of $241.6 billion in August, according to data released today by the Federal Reserve.

CUNA Mutual Group said it has closed on its purchase agreement with Producers Ag Insurance Group to become the sole owner of the crop insurer.

Detroit Edison Credit Union and NuUnion Credit Union announced today that they have approved an intent to merge agreement.

Businesses cut 190,000 non-farm jobs last month as unemployment reached 10.2%, the highest rate since April 1983, the Department of Labor reported today.

With the mission of sharing best practices in the business lending arena, 15 CUSOs have come together to form Regional CUSO Alliance to promote sound business loan participation activity in their local markets.

Regulators should "show some temperance" when examining financial institutions so that they can continue to lend money to help the economy improve," House Financial Services Committee Chairman Barney Frank said in a letter.