News

PLEASANTON, Calif. -- The HELOC loan program that saddled Sterlent Credit Union here with big losses making it insolvent were brokered by World Savings/Wachovia' Correspondent Brokers Network, Credit Union Times has learned. The $98 million asset institution posted a net income loss for the quarter ending in March of $5.5...

WASHINGTON -- Federally insured credit unions are financially "strong and healthy,'' despite an increase in delinquency among real estate loans reflecting the current state of the economy, NCUA Board Chairman JoAnn Johnson told lawmakers Thursday.

WASHINGTON -- Federally insured credit unions are financially "strong and healthy,'' despite an increase in delinquency among real estate loans reflecting the current state of the economy, NCUA Board Chairman JoAnn Johnson told lawmakers Thursday.

PHILADELPHIA -- The Federal Reserve Bank of Philadelphia said Thursday it has invited credit union CEOs and their reps to a June 25 meeting of financial institution leaders to review "the latest information on foreclosure prevention loans and assistance" amidst the mounting foreclosure problem in metropolitan Philadelphia.

PHOENIX -- Faced with shrinking membership and a need to economize, state leagues, like the rest of the industry, are adapting to conditions and so far "there is no crystal ball" as to the future structure or service menu of the trade groups, the CEO-designate of the Credit Union Association...

ATLANTA -- After 36 years with Georgia's Department of Banking and Finance, Wayne Orr, supervisory manager of credit unions and banks, retired on June 1.