News

The Virginia Tech Memorial Fund, a fund established to help the victims and Virginia Tech community recover from last month's mass shooting, has received $5,000 from the $28 billion Navy Federal Credit Union.

NCUA Vice Chairman Rodney Hood reiterated one of his missions of keeping the balance between safety and soundness while allowing credit unions and CUSOs to serve members without "arduous, burdensome" regulations.

The concerns expressed by the industry's trades and leagues on the impact of hostile takeovers among credit unions may be for naught, one veteran attorney said.

The New Jersey Credit Union League said Thursday it has formed a five-member search committee headed by Cindy Rein-Zima, president/CEO of Hamilton Horizons FCU, to begin recruitmen to find the replacement for fired CEO Bob Walls.

New York State Senator Thomas Morahan (R-38th) introduced a bill last week calling for the taxation of federal credit unions in New York.

When it comes to promoting youth savings, the $205 million Yakima Valley CU is certain to be this month's winner opening a whopping 925 start-up accounts with a $25 free deposit during a 19-day period.