News

CUNA President Dan Mica told a Senate panel today that the credit union movement "would prefer some help'' from the government help in the form of loans to help spread out the cost of losses to the NCUSIF.

Private investors and the government would work together to buy bad assets to help financial institutions get back on their feet, under a plan unveiled today by Treasury Secretary Timothy Geithner.

NCUA Chairman Michael E. Fryzel said today that his agency is putting together a proposal would create a new mechanism to replenish the NCUSIF.

National Credit Union Foundation Executive Director, Stephen Delfin, said the foundation doesn't expect NCUA's take over of US Central and WesCorp corporate credit unions to have an immediate impact on its operations.

Credit unions that have been partnering with Keybank for surcharge-free ATM access are looking for other partners for access after the bank sent them a letter saying that it was ending its surcharge-free access program.

By Saturday afternoon, both U.S. Central FCU and Western Corporate FCU had updated their Web sites to reflect board and management changes mandated by the NCUA as a result of Friday's conservatorships.

Low mortgage rates and an increase in the availability of foreclosed properties helped trigger an increase in sales of existing homes last month, the National Association of Realtors reported today.

For the last several years, U.S. Central Federal Credit Union has been one of NACUSO's "platinum partners." However, it's too early to tell whether the corporate's recent conservatorship will have an impact on the alliance.