News

South Texas credit unions were acting cautiously Monday in connection with safety/soundness advertising following the weekend collapse of the $13 billion Guaranty Bank of Austin, the nation's second largest banking failure in 2009.

CUNA's budget constraints plus a slow time in Congress is causing a brief suspension of its daily NewsNow e-mail bulletin.

Kentucky Employees Credit Union will be converting to a core processing system from Share One, the credit union and Memphis-based tech CUSO said.

Royal Credit Union, Accentra Credit Union and Cornerstone Credit Union have partnered with INVEST Financial Corp. for brokerage and investment services.

Effective October 19, the Federal Home Loan Bank of Boston will no longer purchase mortgages with primary mortgage insurance provided by mortgage insurer CMG Mortgage Insurance.

By the fourth quarter, commercial mortgage defaults from banks could soar past levels not seen in nearly 20 years, according to the FDIC.