News

President Obama on Friday signed a bill giving credit unions and other financial institutions more flexibility on providing notification to consumers about non-credit card accounts.

The $839 million NuUnion CU of Lansing and the $639 million Detroit Edison, charting a merger set to become effective next March, are looking for possible future expansion into Ohio and Indiana, the CEO-designate said Monday.

Kennebec Savings Bank, the state chartered bank that had applied for a federal charter as part of its proposed merger with KV Federal Credit Union has withdrawn its application after the CU's members nixed the proposed merger.

Members of the $1.3 billion Constitution Corporate FCU now own a $2.4 million deficit that's guaranteed by the National Credit Union Share Insurance Fund.

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.