News

WASHINGTON - Unemployment rose to a 16-year high of 7.2% in December, as businesses cut 524,000 non-farm jobs, the Department of Labor reported today.

WASHINGTON -- Bowing to the pressures that come with a recession, CUNA has eliminated eight positions-through lay offs and attrition-and eliminated merit increases for senior staff members.

FARMERS BRANCH, Texas -The Texas Credit Union League announced Friday it is venturing into online radio blogs and "social networking" by launching a monthly "BlogTalkRadio" program starting next Wednesday.

WASHINGTON - A bill allowing judges to rewrite the mortgages of people filing for bankruptcy won't be opposed by Citigroup, but still has a way to go before passing.

SAN FRANCISCO - FASB decision to tweak fair value accounting rules won't affect credit unions much, but it's an important step in the right direction, said Scott Waite, senior vice president and chief financial officer of Patelco Credit Union.

NAPLES, Fla. -- Although many large bank issuers have turned away from the direct mail card offer many have also started offering 0% balance transfer offers on fixed rate cards, according to CardTrak.com (www.cardtrak.com).

TAMPA, Fla. -- Barclays Global Investors iShares has selected MEMBERS Trust Company for inclusion in its inaugural Exchange-Traded Fund Managed Solutions guide, the only credit union-linked entity to make the cut.

WASHINGTON - Sen. Christopher Bond (R-Mo.) a key player on housing issues, said today he will not seek a fifth term when he is up for re-election in 2010.