News

CU Times Overseas Correspondent London, U.K. - Money laundering is a concern for the Financial Services Authority here, but the regulatory body for United Kingdom credit unions told CUs they will not have to conduct a special review of their members' identities. However, this does not exempt them from establishing...

DUBLIN, Ireland - The Irish Competition Authority (CA) has blocked the disaffiliation of several credit unions by the Irish League of Credit Unions (ILCU). The decision pending a full hearing is the result of "ongoing discussions with regard to the League's insurance requirements for member credit unions. The main issue...

RHONDDA CYNON TAFF, Wales - The largest Welsh credit union is nameless, but it is also the newest. The credit union was formed last month when five credit unions in this former mining area merged. Their combined assets are over 1 (US$1.6) million and they have over 5,000 members. That...

CHICAGO - These days everyone is talking about serving the Hispanic market (see opinion piece page 16). But credit unions can't do the same old same old to attract business from any ethnic group, not just Hispanics. When it comes to serving ethnic markets, credit unions can never dig too...

Turn to pages 20-23 for the latest news on credit union facilities.

MADISON, Wis. - The Credit Union Executive Society has paid off the mortgage on its headquarters less than two years after taking out the $2.1 million loan. The building is valued at more than $4.6 million. CUES President/CEO Fred Johnson described the building that was constructed in 2001 as a...