News

Like the old at-home visits by the rural doctor, state credit union leagues are ramping up on-site compliance visits-some lasting a week at a time-under new programs debuting this fall with an appeal to small CUs from Iowa to Texas.

The SBA said it will launch a secondary market guarantee program with the aim of providing greater liquidity for credit unions and other lenders.

The turnaround signs for troubled Nevada credit unions remain still hard to come by Wednesday, according to CEOs, as at least one, the $783 million Nevada FCU detailed the shedding of 30 jobs this week bringing its payroll down to 270 employees.

The $1.7 billion Michigan State University Federal Credit Union will close a mortgage electronically for the media on Thursday as members finalizing their mortgage documents will do so entirely through touch screen computers.

A former credit union now turned bank may find out that it didn't clear itself from all of its CU relationships in time to avoid losing significant money.

As a result of the sluggish economy, 5.13% of all insured shares are in credit unions with CAMEL 4 or 5 ratings, and there are 326 credit unions with such ratings, NCUA Chief Financial Officer Mary Ann Woodson told the NCUA Board last Thursday.