News

Since U.S. Central Federal Credit Union released first-quarter financials that showed only a 23% impairment to member capital accounts, not 63% as reported two weeks earlier, financial managers have debated how to record the evolving losses.

The recession has affected the way many Americans are saving and cutting back on expenses so much that frugal living could a permanent life change.

In another sign that the economy may be picking up, sales of existing homes increased last month, though the median price of homes continued to decline, the National Association of Realtors reported today.

Does passage of the Corporate Credit Union Stabilization Fund bill mean natural person credit unions can reverse the share insurance premium and impairment charges they took at year-end 2008 or first-quarter 2009 per accounting guidelines?

The NCUSIF's reserve balance was $5.3 billion last month and the fund lost $2.5 million in income, NCUA Chief Financial Officer Mary Ann Woodson told the board last Thursday.

The $2 billion First Carolina Corporate Credit Union joined all other corporates except the $100 million Iowa Central Corporate CU in participating in the Temporary Corporate Credit Union Share Guarantee Program.