News

At least 60 California credit unions will accept the state's IOUs, which the Golden State began issuing July 2 instead of employee paychecks.

The most recent Discover Financial Services' U.S. Spending Monitor survey suggests that credit unions will have to wait a bit longer for members' use of credit cards to return to previous levels.

As of July 3, Corporate Central Credit Union had converted nearly $25 million in paid-in capital from member capital shares to paid-in capital. The $2.1 billion cooperative announced the offering in April, and it will close July 31.

Citing both the economy and prudent policies, the $500 million America's Christian Credit Union of Glendora, Calif. is closing two of its out-of-market branches today in Sacramento and Wichita, Kan.

Assistant Treasury Secretary Michael Barr told lawmakers today that the proposed agency to regulate financial products would help credit unions and not add more regulation.

Credit unions have managed through 20 recessions in their 100 years of existence and are flush with opportunities to help them through this one, CUNA Mutual Group Chief Economist Dave Colby recently told industry leaders.