News

Crisis management firm NachmanHaysBrownstein, Inc., said it didn't intend for its press release to imply one credit union client was to blame for the recent bankruptcy filing of U.S. Mortgage Corp. and its CU National Mortgage subsidiary.

The National Federation of Community Development Credit Unions is celebrating the Obama Administration's proposal to double the amount of money appropriated to the U.S. Treasury Department's CDFI Fund.

The gross domestic product fell at an annual rate of 6.2% during the fourth quarter of last year, compared with a .5% decline during the third quarter, of 2008, the Commerce Department announced today.

The Pine Brook, NJ-based U.S. Mortgage Corp., and its CU National Mortgage subsidiary, announced today that it has filed Chapter 11 Bankruptcy.

President Barack Obama's fiscal year 2010 budget authorizes $28 billion in loan guarantees and an appropriation of approximately $700 million for the agency.

Analysis of 2008's credit union data showed that credit union members kept using their credit cards in 2008, despite the onset of harder economic times.