News

A rule that would prohibit a Texas credit union from offering a merger inducement to another credit union's members as a means of promoting a merger of the two credit unions was recently approved by the Texas Credit Union Commission.

The National Federation of Community Development Credit Unions is seeing its longstanding effort to raise money for community development credit unions to use as capital starting to gather some real momentum.

Nearly 30 members of American Partners Federal Credit Union said they have allegedly lost $3 million of their retirement savings through an investment advisor working at the credit union and 14 have filed a lawsuit against both to recover their money.

Last month, CUNA Chief Economist Bill Hampel fulfilled a childhood dream and helped raise more than $100,000 for various charities.

The $7.6 billion BECU, formerly Boeing Employees Credit Union, is celebrating almost doubling its credit card portfolio's outstanding balances in fewer than two years, according to the CU and PSCU Financial Services, the payment processing CUSO that helped the CU make the change.

Standard and Poor's has reaffirmed U.S. Central's AAA rating but revised its outlook from stable to negative. Standard & Poor's pointed to U.S. Central's subprime and other mortgage related securities as a reason for concern.