News

The economy's deterioration during the first two months of 2009 was "broad based" and the prospects for any improvement before the end of this year or early 2010 is poor, according to a report published today by The Federal Reserve Board.

Corporate Central Credit Union announced that they have filled a current vacant board position with Jim Schrimpf, president/CEO of Brewery Credit Union.

Launched in 2004 to help the African-American Credit Union Coalition with its mentoring, student internship and international training efforts, the Pete Crear Fund continues to make strides despite some recent hits.

The National Federation of Community Development Unions has waded into the controversy over how the NCUA should handle the losses at corporate credit unions and has come down firmly in the camp of taking government help.

ALEXANDRIA, Va. -- The increased revenues from premiums and recapitalization is offsetting some of the losses to the NCUSIF, and the fund's net income was $150 million last month, NCUA staff reported to the board last Thursday.

Reduced payments as part of modified mortgages agreed to by credit unions and other loan servicers would stay in place for five years, according to the details of the Obama administration's housing assistance plan released today.