News

NCUA issued orders of prohibition for three individuals formerly working in the credit union movement.

Wholly-owned CUSOs and multi-owned CUSOs focus on different types of services offered. For wholly-owned CUSOs, financial services is the primary service offered, followed by other services, lending services and technology services. In comparison, multi-owned CUSOs' primary service is technology. Lending services rank second, followed by financial services and other services.

CUSOs are playing an increasingly important role in the credit union industry. As of December 2005, credit unions had invested $722.0 million in CUSOs--nearly twice as much as they had five years earlier. In addition, credit unions had loaned more than twice as much to CUSOs as of Dec. 31,...

Coastal Federal Credit Union has partnered with CU Business Capital, LLC to provide additional business banking services to its members.

The FDIC Board voted in favor of a one-time credit totaling $4.7 billion for qualifying banks and thrifts under the Federal Deposit Insurance Reform Act of 2005.

Mountain America Credit Union was profiled in the October edition of Entrepreneur magazine for its financing help to small businesses.