News

AUGUSTA, Maine -- Mark Johnson, CEO of the Kennebec Savings Bank, has been elected to the board of the Independent Community Bankers of America.

WASHINGTON -- The Securities and Exchange Commission today charged Bernard L. Madoff Investment Securities LLC with securities fraud for a Ponzi scheme that has resulted in $17 billion in assets under management that is now missing.

ALEXANDRIA, Va. -- U.S. Central can convert membership capital accounts to a new paid-in capital instrument, the NCUA decided today.

MIAMI -- A low-cost TV awareness campaign Web-linked and funded by a consortium of south Florida credit unions on the NBC affiliate, is going national next month in three major markets, its backers announced Friday.

PROVIDENCE, R.I. -- Gov. Donald Carcieri unveiled yesterday a small business stimulus package that will invest $165 million into small and mid-sized businesses over the next two years with the help from several Rhode Island credit unions and banks.

WASHINGTON - A 25 basis point spread isn't worth writing home about, but the NCUA is hoping the Credit Union System Investment Program's lack of credit risk, and a little bit of guilt, will attract participants.