News

TNB Card Services, the card issuing and processing arm of credit union owned Town North Bank, may have signaled a more aggressive stance toward CU card portfolio purchases with the purchase of a $16 million card portfolio from the $490 million A+ Federal Credit Union, headquartered in Austin, Texas.

A new Wall Street Journal Online/Harris Interactive Personal Finance Poll found that while 90% of U.S. adults say they plan to retire, more than one in five (22%) have not yet taken any steps to plan for this event.

In what may be a first within the credit union industry, the Alabama Credit Union League, along with Credit Union Business Services, LLC, has voted to purchase CEBCO Staffing, a professional employer's organization and temp-to-permanent employment services company.

A petition from more than 140 members of the University of Iowa Community Credit Union has prompted a new vote on changing the financial institution's name to Optiva Credit Union.

"Whether or not that happens will depend on a number of factors, including what changes are made to the federal loan system and market and economic conditions," says Research Associate Courtney McSwain. "Private loans certainly are growing, and students are using private loans more, especially students pursuing professional degrees."

Smaller credit unions do have a place in the credit union community, but mergers are sometimes necessary or in the best interest of the membership, Merger Solutions Group President David Bartoo, said.