Credit Union Times | Accurate and Timely CU News

WOCCU's Crear Talks Global CU Development During ICU Day Webcast

By Heather Anderson

SAN DIMAS, Calif. -- Thanks to credit union pioneer Roy Bergengren's concern over predatory lending around the world back in the 1950s, credit unions are now located in places never dreamed, World Council of Credit Unions President Pete Crear told an international Webcast audience yesterday.

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NCUA Approves Temporary Corporate Liquidity Guarantee Program

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Growing Number of Brokers Going Independent

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October 16, 2008

Fixed-Rate Mortgage Interest Rates Soar

MCLEAN, Va. -- For the week ending Oct. 16, 30-year fixed-rate mortgages averaged 6.46% with an average 0.6 point, up from last week when it averaged 5.94%.

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October 16, 2008

Advocates for Low Income Credit Access Team Up

WASHINGTON -- Citizens for Equal Access to Credit, a coalition of lower income, minority and business groups that advocates to protect lower income consumer's access to credit has partnered with a long standing Hispanic organization.

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October 16, 2008

Addison Shuts Down Zopa Tie

SAN FRANCISCO -- The $2 billion Addison Avenue Federal Credit Union, Palo Alto, Calif., has formally shut down its link to the ill-fated Zopa peer-to-peer network.

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October 16, 2008

NCUA Share Insurance Fund Feeling Impact of Weak Economy

ALEXANDRIA, Va. -- The NCUA's Share Insurance Fund has $7.8 billion in assets and a strong equity ratio, but the increase in the number of credit unions experiencing difficulties is placing some strains on the fund, NCUA Chief Financial Officer Mary Ann Woodson told the board today.

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October 16, 2008

TDECU Denied Broad FOM Bid But Pursing 'Alternatives'

LAKE JACKSON, Texas -- The president/CEO of Texas Dow Employees Credit Union said Thursday he is "understanding" of the state's scale back this month of the CU's attempt to broaden its field of membership into six Texas counties which included metro Houston's Harris County.

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October 16, 2008

Smart Card Group Seeks to Reassure About Card Security

PRINCETON JUNCTION, N.J. -- The Smart Card Alliance, an industry group working to promote and facilitate the adoption of smart card technology has issued a white paper seeking to explain the technology's security.

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October 16, 2008