News

While the number of credit unions and members in 2006 were roughly the same as in 2005, Georgia is poised to do more going forward.

Two more members have added their names to the burgeoning list of co-sponsors for the Credit Union Regulatory Improvements Act (H.R. 1537) with more to come, according to CUNA.

Federal Reserve Chairman Ben Bernanke spoke yesterday about the problems in the subprime mortgage market, rising foreclosures and possible regulatory responses in a speech at the Chicago Federal Reserve Bank here.

The ability of credit unions to provide international remittance services to immigrants in the U.S. benefits the immigrants, their families in their home countries and the credit unions themselves, explained CUNA Vice President David Grace before a subcommittee of the House Financial Services Committee.

With one quarter gone, 2007 has been good to the Financial Service Centers Cooperative. The nationwide shared branching network which is headquartered on the west coast announced that it has signed 20 new contracts with CUs representing over $1 billion in assets through April.

The NCUA Board will be facing some hot button issues for its next board meeting.