News

In response to the updated insurance coverage following the Federal Deposit Insurance Reform Act signed into law earlier this year, NCUA has revised its Your Insured Funds Booklet.

The national credit union trade associations lobbied hard for the Bankruptcy Abuse Prevention and Consumer Protection Act that they say targets debtors trying to game the system, and after nearly a decade of work got their wish at the end of 2005.

The CUNA Board has adopted a national disaster preparedness plan for credit unions to manage future responses to major disasters.

John Henry, senior vice president, MEMBERS Financial Services, Sales, resigned on Aug. 23.

A happy New Year will begin early for the more than 147,000 members of Founders Federal Credit Union. Founders will return $6 million to its members as a bonus dividend--the largest in the credit union's history. It will be distributed among borrowers and savers on December 31.

Credit unions continued to outgrow their spaces in 2006 as many were either breaking ground or opening the doors to new headquarters.