News

Loans issued by Georgia's credit unions totaled $4.0 billion in 2008, nearly identical to the $4.1 billion distributed in 2007, according to a new report from the Georgia Credit Union Affiliates.

The $1.2 billion Chartway Federal Credit Union has decided to promote its own credit card program while big bank issuers are losing ground.

CUNA's Mike Schenk, vice president, economics and statistics, said he's worried the press and public will misinterpret 1st quarter 2009 credit union financial reports.

It's getting ugly in the Sun Belt, and the NCUA hasn't even finished posting 1st quarter financials to its Web site.

If Space Coast Credit Union and Eastern Financial Florida Credit Union were to merge, there would be approximately $200 million in net worth after writing off all expected losses from Eastern Financial, Space Coast said.

U.S. Central members are meeting in Overland Park, Kansas this morning as part of the struggling institution's Spring Corporate Network meeting.

The April 17 release of the NCUA's PIMCO summary was a disappointment to those hoping for specific information about which corporates were responsible for what percentage of the system's $5.9 billion worth of charges to the share insurance fund.

There was more bad news last week for credit union meetings and travel.