News

NEW YORK -- The National Federation of Community Development Credit Unions is hearing an unprecedented level of complaint and concern from its members about the most recent round of grants from the U.S. Treasury Department's Community Development Financial Institutions Fund.

WASHINGTON -- Two of the country's leading financial institutions had difficult weekends.

ANN ARBOR, Mich. -- This summer has been a busy one for Michigan Business Connection, which was recently chosen to provide underwriting expertise for the CU Systems Fund.

NEW YORK -- Community development credit unions appear to face little direct impact from the bankruptcy and the buy out of two of the nation's largest investment banks, but may find money for grants harder to get, according to a CDCU leader.

HOUSTON -- With credit union property losses expected to reach the millions from Hurricane Ike, scores of Texas and Louisiana credit unions were doing preliminary damage assessment Monday as many flooded branches and headquarters remained closed in areas without power.

WASHINGTON -- Credit unions report very little impact from the recent government takeover of Fannie Mae and Freddie Mac. But Navy Federal Credit Union's Jack Gaffney, executive vice president of lending, said that, in the long term, the takeover is not good for the financial services industry.