News

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...

NEW YORK - Two credit unions in New York broke new ground in 2002 by starting relationships with Manhattan check cashers. Under the arrangement, which needed approval from the New York State banking authorities, members of the $9.6 million Bethex Federal Credit Union, based in the Bronx, and the $68...

ALEXANDRIA, Va.-NCUA's proposed rule expanding field of membership authorities issued for comment at the November board meeting was the icing on the cake of 2002's credit union regulatory relief advances. Though modifications were made to virtually every portion of the regulation, according to NCUA Senior Staff Attorney and Field of...

ARLINGTON, Va. - Stung by allegations they do not adequately serve lower and middle income members, credit unions around the country began scrambling to point out what they do and started doing more where possible. Coming on the heels of NCUA's abandoning of the controversial Community Action Plan regulation, and...

CHICAGO - There's even one billion dollar credit union CEO position vacant right now with the resignation of Bob Bream from the $3.9 billion United Airlines Employees CU. Bream joined UAECU in 1991 and served as CEO for 10 years. He said he's most proud of growing capital reserves to...

NEW YORK - In case anyone ever doubted it, the 9/11 attacks on the World Trade Center in New York City brought home the importance of having a disaster relief plan that is as flexible and redundant as possible. It came out this year that the $1 billion Municipal Credit...