News

S1 Corp. has hired a 25-year technology veteran to be its new vice president in charge of the e-commerce provider's corporate product strategy, data center hosting, and managed services operations.

The ongoing fight to further regulate or eliminate payday lending in different states and provide consumers with alternative products for short-term loan needs continues to percolate and change, drawing in new media and opening new fronts.

"It could have been worse," said Bob Hamer, former CEO of Norlarco Credit Union, which has now been completely absorbed by Public Service Credit Union of Denver.

Despite all the negative news coverage regarding foreclosures, devalued investments and their effect on liquidity and capital, the credit union industry is in great shape, said executives from two corporate credit unions located in areas with high foreclosure rates.

Embraced in other countries, an innovative account that pools all of a member's accounts including savings, loans, mortgage, checking and credit cards into one account recently moved one step closer to implementation here in the United States.

NCUA's bidding process to find a buyer for the failed $339 million Cal State 9 Credit Union of Concord, Calif. was to start in earnest here last week as three Northern California CUs confirmed their possible interest in acquiring the agency-run CU.