News

ATLANTA - By 2007, African-Americans are projected to have $850 billion in buying power, but only 11% belong to a credit union. This, according to a presentation from Bill Hampel, CUNA chief economist, presented at the AACUC's recent annual meeting. Citing data from CUNA's 2002 National Member Survey Report and...

DALLAS - American Express, getting out of the ATM business, has sold the remaining part of its ATM fleet to the 7-Eleven convenience store chain, 7-Eleven announced recently. 7-Eleven paid $44 million for the ATM machines offered in 5,483 company-operated, franchised and licensed 7-Eleven stores in the United States. "ATM...

ATLANTA - His presentation at this year's AACUC annual meeting may be one of Thomas Glatt's last before he starts a new job, but that didn't stop him from easily being one of the highlights of the conference. Portland Teachers Credit Union just hired Glatt, who has spent the past...

ATLANTA - A series of liquidated credit unions as a result of poor mismanagement and bad loans means small credit unions will see stricter oversight, NCUA Region III Director Alonzo Swann told attendees at the African-American Credit Union Coalition meeting here. A regional director since 1997, Swann oversees FCUs in...

DALLAS - Four more credit unions in Texas have sold their credit card portfolios to TNB Card Services, the card processing arm of credit union-owned Town North Bank that is based in Dallas. The four credit unions are the $69 million Santa Fe FCU, headquartered in Amarillo; the $40 million...

ATLANTA - Despite the ongoing attempts by the banking industry to rescind the industry's tax exemption, NAFCU President/CEO Fred Becker offered reassurance that one of Congress's most powerful figures is not jumping on the bandwagon. "(Bill Thomas) has not said credit unions should be taxed," Becker told attendees at the...