News

NEW YORK, N.Y. -- Citigroup announced that it was revamping its residential mortgage operations by bringing all its previously separate units, underwriting, back-office functions and collections under one roof.

Congressional Federal Credit Union President/CEO Robert A. Hess wrapped up his 38 years of leadership by retiring effective December 31, 2007.

Brookwood Capital, a leading independent broker of credit union card portfolios, announced that it facilitated the sale of $35 million Adirondack Regional Credit Union's card portfolio to TNB Card Services.

WASHINGTON -- While credit unions were not included in the Small Business Administration's Small Business Economy: A Report to the President for 2007 because of their relatively new relationship with SBA, the agency said it is working harder to include credit unions in future reports.

Authorities have charged a member of one credit union with a robbery of another credit union's branch and credit an observant teller and shared branch transaction for catching him.

A final copy of a report from the U.S. Treasury Department still lists the credit union tax exemption as one that could be reconsidered if the United States were to reform its corporate tax structure.