News

New OTTI charges announced today by the $31.5 billion U.S. Central Federal Credit Union means the seized corporate must increase its impairment to membership capital shares, which will trickle down to member corporates.

By unanimous consent, the Senate Banking Committee yesterday sent the nomination of Deborah Matz to the full Senate.

The $8 billion Members United Corporate Federal Credit Union reported an $81.9 million OTTI in its newly released June financial reports, resulting in a $79.3 million net loss for the month.

The NCUA determined that pulling the Central Liquidity Facility funds from U.S. Central would be the only way to continue helping it and the credit union system at large.

CU*Answers is now offering the 165 credit unions in its network the cash automation solutions of Talaris.

The House yesterday passed a measure to extend the National Flood Insurance Program through next March and also made communities with state or locally funded levee improvements eligible for some federal funding.