News

LAS VEGAS - Visa USA is looking to credit unions as a ready market for those prepaid card products which are showing big market gains, according to a top Visa executive. In a luncheon speech to the annual National Directors' Convention here, Elizabeth Buse, Visa's executive vice president of product...

LAS VEGAS - The trend toward variable or incentive pay for credit union CEOs shows no sign of slowing down with more than half of the nation's credit unions now using this format to compensate their top managers, a Kansas salary consultant told directors here. Addressing the 28th annual National...

HONOLULU - At least 30% of homeowners on the island of Oahu lease their land, estimates Karen Kaoihana, Vice President of Lending at Honolulu Federal Credit Union. That number has fallen, the lending VP said, from figures of nearly 50% as recently as 10 years ago. "A lot of land...

MCLEAN, Va. - By closing on its $20 million investment in The Enterprise Social Investment Corporation (ESIC) Empire and Garden States Equity Fund, Freddie Mac's portfolio of Low-Income Housing Tax Credit investments now exceeds $5 billion. Formed in 1986, the federal LIHTC program gives corporate investors credit against their federal...

LAS VEGAS - A nine-month certificate with a 9.3% rate and a $1,500 maximum-targeted as a new member promotion-was judged the "the best new idea" by credit union directors at the National Directors' Convention. Winning the top cash prize during the annual "Breakfast of Champions" was the $68 million Premier...

LEXINGTON, Mass. - CUMEX Mortgage Service Center of Lexington has added Mortgage Guaranty Insurance Corp.'s SingleFile program to its menu of mortgage products geared towards new and existing homeowners with excellent credit but who are typically channeled into borrower-financed private mortgage insurance or "piggyback" loans such as an 80/10/10 for...