News

BOSTON -- Saying credit unions should crawl before they walk, NCUA Board Member Gigi Hyland said today that Congress ought to consider raising the cap on member business loans in stages for safety and soundness reasons.

PSCU Financial Services said it will continue with its plans to offer its CardLock service despite the claims of a U.K. firm that it holds the patent on the technology.

CO-OP Financial Services said it has added six more partners as distributors of its mobile banking solution.

The SBA's preferred lender program has added the $315 million USC Credit Union to its ranks.

Corporate Central Credit Union closed its PIC-50 offering July 31 with more than $47 million converted to PIC from member capital shares.

Small business lender CIT Group Inc. recently announced that it will suspend dividend payments on some of its stock to improve liquidity, preserve capital and thwart bankruptcy.