News

WASHINGTON -- As president/CEO of NAFCU, Fred Becker has had a prime seat to view the current financial crisis. CU Times recently sat down with him to discuss his views on the past year and what lies ahead for credit unions.

WASHINGTON -- The recently released results of the FDIC's study on bank overdraft programs highlights key issues credit unions should examine when it comes to their own overdraft programs.

WASHINGTON -- Sales of new homes fell 2.9% in November, and were 35% below the levels of November 2007, the Commerce Department reported today.

WASHINGTON -- The Commerce Department said today that its initial estimate that the gross domestic product would fall 0.5% during the third quarter, compared with a 2.8% increase during the second three months of 2008, was accurate.

WASHINGTON -- Treasury's inspector general has reported that its western regional director had approved the backdating of a capital infusion into the failed IndyMac Bank to avoid repercussions of a falling capital position.

LINCOLN, Neb. -- Aliant Credit Union is putting the finishing touches this month on its merger with Southeast Nebraska FCU of Beatrice, creating the state's 10th largest.

INDIANAPOLIS -- The "Invest in America" auto loan deal, put forward this month by the Michigan Credit Union League, Midwest leagues and CUNA, won praise this week from Sen. Richard Lugar (R-Ind.) to help spur auto purchases.

SAN DIMAS, Calif. -- Moody's Ratings Service announced yesterday that it has downgraded Western Corporate Federal Credit Union's long-term rating from Aa3 to A2, and placed both that rating and WesCorp's Prime-1 short-term rating on review.