News

SACRAMENTO, Calif. - The Golden 1 CU found its new CEO at another billion dollar credit union. Teresa Halleck, formerly president/CEO of the $1.2 billion State Employees CU of Maryland, landed the corner office at The Golden 1. This was one of the most sought after jobs in the industry...

ARLINGTON, Va. - Two court battles over credit cards continued in 2002, leaving it unclear as the year drew to a close how much income credit unions can expect from their credit cards and how much it will cost to offer those cards. The dispute that muddied the waters on...

CORNING, N.Y. - Corning Credit Union didn't have to go far to find the successor to David Bartone, who served as president/CEO of the $465-million CCU for the past 33 years. Although Corning CU's Board did an extensive external search, in October the credit union promoted its vice president Ann...

WASHINGTON-Over the last four years, the bankruptcy abuse reform bill has been introduced in Congress and each year it gets shot down, one way or another. After President Bill Clinton killed the bill with a pocket veto three years ago, a sigh of relief was audible from supporters when the...

ALEXANDRIA, Va.-NCUA employees, for the first time this year, were given half their annual raises up front in March and half spread throughout the year. The total effect was to lower the salary that the following year's pay increase is based on since the lump sum is not included as...

Used auto loans have historically been the core of credit unions' loan portfolios, but record-low mortgage rates throughout the year combined with auto dealers' 0% financing offers, made for a different story in 2002. In October 2001, used cars dominated credit unions' loan portfolios - accounting for 20.64% - but...