News

Nearly half dozen credit union offices were closed down Friday as the flooding Red River threatened downtown areas of Fargo and scores of employees, volunteers and managers joined city residents doing sandbag duty to protect North Dakota's largest city.

Mid-Atlantic Corporate Federal Credit Union noted again that its own capital with U.S. Central "is now impaired" and warned that the unintended consequence of the conservatorships "could jeopardize consumer confidence in all credit unions."

The $224 million Fairfax County Federal Credit Union has launched a more than $500,000 Spanish language media campaign to promote the credit union to the regions Spanish speaking residents.

The cost of buying a house declined last month.

The NCUA responded to a Feb. 24 FOIA request that asked how much the agency paid the private Newport Beach, Calif.-based PIMCO for its analysis, where the funds came from, and the rationale for assessing credit unions the cost.

The NCUA Board asked Congress to create a stabilization fund so credit unions can spread out premiums to the NCUSIF over seven years.

As bad as the initial data on the nation's economic health during the final months of 2008 were, the final numbers were even worse.

Treasury Secretary Timothy Geithner unveiled today a series of proposals to regulate derivatives and hedge funds and allow the government to takeover troubled financial companies.