News

It was hardly unexpected, but the Iowa Bankers Association joined by the American Bankers Association are objecting to a Federal Reserve application by the Iowa Credit Union League to form a bank holding company to buy an Arizona bank.

A CUNA representative drew the House Financial Services Committee a stark picture of the difficulties many consumers would face if the Committee moved forward with proposed changes to laws regulating overdraft protection.

U.S. Central Federal Credit Union released its third quarter 2009 financial statements today, announcing a $308.5 million net loss that depletes remaining member capital shares to only $140 million as of Sept. 30, now an 88.7% impairment.

U.S. Central's third quarter losses will deplete another $51.7 million from the membership share accounts of Members United Corporate, the Warrenville, Ill.-based institution announced today.

Navy Federal Credit Union is anticipating a ribbon-cutting ceremony on Oct. 31 to celebrate a new ATM at Camp Lemonnier, a military facility supporting U.S. anti-piracy and anti-terrorism operations on the horn of Africa.

Opportunity knocks for credit unions to shine the spotlight on products and services designed to help members become more financially savvy.