News

Bankruptcy filings for the 12-month period ending June 30, 2007 increased from the 12-month periods ending in March 2007 and December 2006.

Maryland & District of Columbia Credit Union Association CEO Mike Beall recently announced some clarification of senior staff duties to help focus the organization on its four prime areas of focus: advocacy, services, membership and finance.

Year-to-date total revenue figures are slightly above those of the first six months of 2006 for CUSO Financial Services, LP, a broker dealer and registered investment adviser to credit unions.

In a move that aims to further reach the growing number of member-owned small businesses in Texas, Credit Union Resources, Inc., an affiliate of the Texas Credit Union League, has purchased an interest in the Texas Business Lenders Group, a credit union-owned business lending CUSO.

Amidst the mortgage turmoil, credit unions and their CUSOs continued again last week to rev up e-mail and letter campaigns to calm jittery members by pushing re-fi products and counseling services for those hardest hit by housing troubles.

Access Capital Investment Group reached a milestone with the August sale of two more Centrix CU portfolios, bringing the total to $65 million for the last 12 months, said Seth Meyer, ACIG's secondary market manager. He predicted reaching the $100 million mark by year's end.