News

Unemployment rose to 9.5% in June but businesses continued to cut positions, shedding 67,000 non-farm jobs, the Department of Labor reported yesterday.

Credit union employees interested in learning about how to comply with the recently enacted measure revamping credit card rules can register for NAFCU's July 15 webcast on the subject.

New signage is going up today on multi-state branches of the old American Savings Credit Union of Memphis, which was formally merged this week into Hope Community Credit Union, of Jackson, Miss. now with $117 million in assets.

While the SBA expected a new program offering deferred payments and no fees to be in huge demand, only $4.6 million loans have been funded since the recovery effort was launched on June 15.

The housing market continued to show signs of improvement as pending home sales increased 0.1% in May, the National Association of Realtors reported yesterday. It was the third consecutive monthly rise.

Western Corporate Federal Credit Union eliminated 30 San Dimas-based employees this week, adding to the 60 branch processing staff the NCUA had previously announced would be let go over the next 12 months.