Credit Union Times | Accurate and Timely CU News

Durable Goods Orders Down

By Claude R. Marx

Consumers showed some reluctance to buy big-ticket items such as cars, appliances and office equipment last month, the Commerce Department reported today.

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WesCorp Suit Has Long Defendant List

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New Home Sales Increased in October

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November 24, 2009

Suit: WesCorp's Borrow Short, Invest Long Strategy Was Negligence

Defendants in a suit charging negligence and fiduciary breach began to change Western Corporate Federal Credit Union's investment focus in or around 2003 when they invested in more mortgage- and asset-backed securities, plaintiffs claim.

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November 24, 2009

Perlitsh Comments on WesCorp Suit

Stuart Perlitsh, CEO of Glendale Area Schools Federal Credit Union, said his board of directors voted to recover its WesCorp capital losses, some $1.24 million, because members deserve accountability from those responsible.

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November 24, 2009

First CU Kicks Off $50 Million Loan Blitz

As many financial institutions have stepped away from lending, First Credit Union is letting potential borrowers know that there is an alternative with its $50 million loan-a-thon.

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November 24, 2009

CU Leader Goes to the Roof for Her Causes

Long-time credit union and development organizer Carol Schillios recently raised roughly $92,000 for her work in Africa- by spending 113 nights on the roof of a building in Edmonds, Wash., according to The Seattle Times.

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November 24, 2009

WesCorp Suit Alleges Negligence, Breach of Fiduciary Duty

Seven mid-sized credit unions filed a negligence and breach of fiduciary duty suit in Los Angeles County Superior Court against officers and directors of failed $18 billion Western Corporate Federal Credit Union.

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November 24, 2009