News

The recent history of credit union-to-bank conversions demonstrates no two are alike but credit union industry group National Center for Member Trust stands ready to act, NCMT Chairman Wendell "Bucky" said.

Looking back on what he said was a "very good year" with plans to do credit card processing by yearend, Chairman of CO-OP Financial Services David Maus vowed Thursday to keep the credit union-run CUSO firmly in CU hands despite the conversion "rhetoric" of the times.

The Government Accountability Office study released today found that banks wrote off more $100 billion off their taxes in 2004 and took tax credits of another $6 billion.

In an ongoing effort to expand its presence in Florida, Eastern Financial Florida Credit Union has merged OMNI Community Credit Union into its fold effective today. Eastern Financial will now serve members in Duval, Clay, St. Johns, and Nassau counties in addition to Miami-Dade, Broward, Palm Beach, Pinellas, and Hillsborough...

NASCUS announced a couple of additions today to the speakers scheduled for its Aug. 9-11 State System Summit in Fort Lauderdale, Fla.

New York Senator Thomas Morahan (R-Westchester/Rockland) has withdrawn his bill to tax federal credit unions in the state.

CUNA Mutual announced some restructuring moves yesterday primarily in its claims and customer service areas that will result in 50 layoffs.

With more than $32 million still owed to claimants impacted by a Ponzi scheme involving Bentley Financial Services, a last minute appeal by some of the defendants could stall distribution.