News

NEW YORK - Under other circumstances, Richard Kay might consider LOMTO FCU's 21.04% capital-to-assets ratio high. But considering virtually all of the $111.2 million CU's loan portfolio is made up of small business loans, the president/CEO doesn't think so. "It's a good position to have a high capital level in...

ALBANY, N.Y. - Calling it the creation of a new "top-tier corporate," Empire Corporate and Mid-States Corporate announced that their merger was finalized on June 30. The new Members United Corporate has $9.5 billion in assets and serves 2,100 credit unions. Joe Herbst, former CEO of Empire, will lead the...

TORONTO - The Food Family Credit Union assesses an annual fee to its 2,000 members, but in its newsletter it explained why under the heading "Dues for Democracy." They said, "Annually we assess the equivalent of 29 cents a week to pay for a variety of services within the credit...

ARLINGTON, Va. - In spite of feeling some pressure and even taking some lumps lately, the spirit of cooperation that has characterized the credit union industry from its beginning remains alive and attractive, executives who work close to the heart of that industry reported. Shared branching may be about the...

BATON ROUGE, La. - As far as LA DOTD Federal Credit Union CEO Cary Anderson, NAFCU's CEO of the Year for smaller federal credit unions, is concerned, he's just doing his job. LA DOTD is the ninth credit union Anderson has worked at-and where he has remained since 2001-fourth as...

"There are a lot of different things going on in the industry with different strategies being done by different organizations. But the message is not as consistent as it should be. It's certainly part of our strategic plan. [The philosophy] is in our mission statement. On the education front, we're...