Credit Union Times | Accurate and Timely CU News

Durable Goods Orders Down

By Claude R. Marx

WASHINGTON - Consumers bought fewer big-ticket items such as cars, appliances and office equipment last month, the Commerce Department reported today.

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CU*Answers Announces Patronage Payout

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Kennebec Savings Bank Only Applied For Federal Charter Recently

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January 28, 2009

KV Members Want to See Records

AUGUSTA, Maine -- Members of the $51 million KV Federal Credit Union opposed to KV's proposed charter change and merger with a local savings bank will approach the credit union tomorrow with a petition to see board minutes leading up to the conversion.

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January 28, 2009

Police CU Sets Up Memorial Fund for Murdered Pittsburgh Officers

Police credit unions across the U.S. were joining their "brotherhood" membership in mourning the death of three Pittsburgh officers with at least one memorial fund opened today by the $45 million Greater Pittsburgh Police CU.

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January 28, 2009

Canadian CU CEO's $3.6 Million Bonus Causes Uproar

Members of Servus Credit Union are angry that its CEO, Steve Blakely, has received a $3.6 million bonus

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January 28, 2009

Managers Need to Share the Pain, Says Pay Consultant

Top management of credit unions must now be aware "they are no different from any other industries sharing the economic pain" and look toward possible compensation reductions, a California salary consultant warned Thursday.

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January 28, 2009

CUs to Pay for Massive Rescue of Corporates

WASHINGTON -- In the wake of an expected $1 billion loss by U.S. Central, the NCUA is infusing $1 billion into the troubled credit union and undertaking a series of efforts to shore up the corporate credit union system.

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January 28, 2009

US Central's $1.2 Billion OTTIs From Private Label MBS

WASHINGTON - U.S. Central FCU said it will report $1.2 billion in other-than-temporary-impairments for 2008, writing down $2.3 billion worth of private label mortgage backed securities to slightly less than 50 cents on the dollar.

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January 28, 2009