News

Several large credit unions adopted a number of underserved areas late last year.

Reflecting the industry trend toward mergers and consolidation, the New York State Credit Union League announced last week a reduction of its board size and a new governance structure reflecting credit union asset size.

NCUA Associate General Counsel Sheila Albin stated in a legal opinion that federal credit unions are permitted to provide housing counseling services to nonmembers under a grant program by the Department of Housing and Urban Development.

CU Members Mortgage has announced a new financing product available for purchase-money loans on single-family residences.

Desert Schools Federal Credit Union, in partnership with Elan Financial Services has named Stephanie Parker the grand prize winner in its Visa Card "Wanted" promotion.

For Paula Edwards, the former president/CEO of Nationwide Federal Credit Union, the conversion and merger into Nationwide Bank last November turned out to be a valuable learning experience "with wisdom gained and lessons learned" about respecting the moral rights of CU members.