News

Because of the unique nature of credit unions, asset valuation requires careful consideration the national credit union trade associations told the Financial Accounting Standards Board.

Desert Schools Federal Credit Union said last week it is combining its product management and quality service functions to enhance development of deposit products for both consumers and small business applications.

The Michigan Credit Union League has once again teamed up with state lawmakers to educate youth and young adults about money management during April--Youth Financial Literacy Month.

Breaking with previous practice and signaling its new commitment to more transparency, Visa USA has gone public with its interchange schedule that took effect on April 14.

In response to problems in the subprime mortgage sector, NCUA has issued guidance to corporate credit unions regarding the potential impact on mortgage backed securities.

The House Financial Services Committee was slated to hold a hearing last week to look at a broad solution to the subprime mortgage problem that provides relief to borrowers and holds the original lenders accountable either through discounts, refinancings or other means.

CUNA and NASCUS are looking at the state charter implications of the proposed rule issued for comment this month by NCUA that establishes parameters for disclosing executive compensation increases in merger deals.

Seattle Metropolitan Credit Union and Credit Union Northwest recently announced their impending plans to merge this summer.