News

California credit unions, "face a longer road to recovery" than the rest of the country because of the combined problems of a poor economy, higher taxes and now a state budget impasse, according to the president/CEO of a mid-sized Los Angeles CU.

Witnessing the credit union experience with Homes for Our Troops, a handful of banks led by Bank of America, are now playing catch-up.

Pennsylvania credit unions coming to the rescue of state employees whose pay is caught up in the state budget crisis began disbursing millions in loans today.

Credit Union 24 has seen 29 of its current client credit unions renew their contract with the ATM and debit network so far this year and has picked up an additional 21, according to the Tallahassee, Florida based network.

ALEXANDRIA, Va. - The NCUA won't be spending more money during the second half of the year overall, but will be spending $200,000 more than planned on public outreach and almost $300,000 more on salaries and benefits, the NCUA Board decided today.

Five years ago, members served by Texas' credit unions parked half their deposits in shares and checking accounts. Today, they are moving those funds into certificates of deposits.

The 231 credit unions served by LPL Financial Corp. will remain on the independent broker-dealer's platform or the UVEST Financial Services' platform, the company said.

According to Clayton's first quarter U.S. Central investment report, losses from mortgage backed securities aren't expected to peak until early 2011, when principal and interest distribution also peaks.