News

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.

The $34 billion U.S. Central Federal Credit Union and the $23 billion Western Corporate Federal Credit Union both failed NCUA stress testing, but agency spokesman John McKechnie said the rest of the corporate network passed.

NCUA Executive Director David Marquis said WesCorp ignored third-party vendor portfolio valuations in favor of its own modeling, which used more optimistic assumptions.