News

Three more mid-size mergers of credit unions in Ohio, California and Washington State were in progress this week as the economic slump continued to take its toll.

To reflect its diverse membership, the $103 million LA DOTD Federal Credit Union is changing its name to Main Street Financial Federal Credit Union.

The Obama administration today awarded $486 million to 11 states and the Virgin Islands to finance the construction of affordable housing.

Nearly 80% of investors said they are angry about the lack of reforms in the financial markets and are demanding stronger actions to be taken, according to a new survey.

U.S. Central is forecasting $47.9 million in noninterest expense for 2009, compared to the $64.2 million it spent in 2008, which marks a 25% reduction.

The Senate Appropriations Committee yesterday approved a $46.4 billion spending bill that includes a provision giving the Central Liquidity Facility about $40 billion in borrowing authority and not be subject to a cap.