News

The chairman of Central States Mortgage Co. said the firm, which filed for bankruptcy last week, produced "years of very good earnings for many small Wisconsin credit unions, a fact that should not be overlooked."

CUNA General Counsel Eric Richard said today the association won't file a suit challenging NCUA's decision to place U.S. Central Federal Corporate Credit Union and Western Federal Corporate Credit Union into conservatorship.

Retailers working to cut or cap credit and debit card interchange are shifting their efforts from members of the House Judiciary Committee to members of the House Financial Services Committee.

NCUA's borrowing authority would be raised from $100 million to $6 billion and it would receive an additional $18 billion in emergency borrowing authority under an amendment that the Senate Banking Committee is scheduled to consider.

TMG Financial Services, the card portfolio purchasing arm of The Members Group has some card portfolios in which it hopes some credit unions will want to invest.

The forecast of a big snow storm tonight in flood-weary Fargo, N. D. put a temporary damper on credit union operations retaining to normal as some CUs reopened their branches to take care of month-end ACH and social security transactions.

North Shore LIJ Health System Federal Credit Union, LIJ Employees Federal Credit Union, and Hillside Hospital Federal Credit Union have expressed an interest in exploring a possible merger of the three credit unions.

The automobile industry will be getting some tough love, including additional restructuring and layoffs and possible bankruptcy filings, as part of the rescue plan unveiled today by President Obama.