News

NCUA released a legal opinion letter (07-0627) last week clarifying the member-to-member communication provisions in the updated mutual savings bank conversion rule for an attorney at Silver, Freedman & Taff, LLP, which assists in these conversions.

Southwest Business Corporation recently announced that it has added a Reverse Mortgage Division to its credit union mortgage services menu. SWBC President/CEO Gary Dudley said the company recognized the growing demand for the product and was responding to CU-client inquiries.

Vancouver City Savings Credit Union has found its new CEO in Tamara Vrooman.

The Credit Union Association of Wyoming noted the passing of Senator Craig Thomas (R-Wyo.), "a good friend to credit unions" and said that his replacement state legislator John Barrasso should continue good relations on Capitol Hill.

After over 31 years of serving BayLands Federal Credit Union, President/CEO Margie Elliot has announced she will retire effective August 1.

Garden Savings Federal Credit Union has agreed to a Cease & Desist Order from NCUA, without admitting or denying fault, for Bank Secrecy Act noncompliance, the regulatory item credit unions often cite as the most onerous.