News

Western Corporate Federal Credit Union defendants sued by seven mid-sized credit union members include the seized institution's entire board of directors and supervisory committee as well as two volunteers who had already left the board.

The presence of a tax credit for first-time buyers and slightly more confidence in the economy fueled a 6.2% in new home sales last month-5.1% above October 2008-the Departments of Commerce and Housing and Urban Development reported today.

Defendants in a suit charging negligence and fiduciary breach began to change Western Corporate Federal Credit Union's investment focus in or around 2003 when they invested in more mortgage- and asset-backed securities, plaintiffs claim.

Stuart Perlitsh, CEO of Glendale Area Schools Federal Credit Union, said his board of directors voted to recover its WesCorp capital losses, some $1.24 million, because members deserve accountability from those responsible.

As many financial institutions have stepped away from lending, First Credit Union is letting potential borrowers know that there is an alternative with its $50 million loan-a-thon.

Long-time credit union and development organizer Carol Schillios recently raised roughly $92,000 for her work in Africa- by spending 113 nights on the roof of a building in Edmonds, Wash., according to The Seattle Times.