News

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.

A regular survey of U.S. consumers conducted by a Canadian Bank suggests that Americans are no where near ready to start using their credit cards again.

Five credit unions, including the nation's first federal credit union, are converting from competitive core processing platforms to Fiserv, the company said.