News

Ongoing Operations LLC will be using a sophisticated piece of hardware from Teneros Inc. (www.teneros.com) of Mountain View, Calif., as its disaster recovery solution for the processes powered by Microsoft Exchange, including e-mail.

Roughly 1.65 million ATMs worldwide make up what is essentially a saturated market for the popular banking machines, according to a report from Global Industry Analysts, a market research firm.

Citing its product strategy and rapid growth of in-store branches, the $3 billion Desert Schools Federal Credit Union said last week it has reached a "dramatic" membership milestone: 350,000 members, a 30% jump from five years ago.

Two Niagara Falls-area credit unions have been cited by regulators for operating "in an unauthorized and unsafe and unsound manner" for lack of controls in their lending, compliance, and accounting operations according to a story in The Buffalo News.

Both California and Nevada credit unions posted much lower gains in nearly every financial category in 2006; however, the cooperatives still achieved moderate growth, despite the region's struggling real estate market.

The Wisconsin Credit Union League has now added its weight to the growing trend of countering foreclosures and predatory mortgages with the credit union common sense approach to real estate lending.