News

During a keynote session at NACUSO's annual conference last week, Hood marveled at the alliances CUSOs have formed. He reiterated one of his missions of keeping the balance between safety and soundness and allowing credit unions and CUSOs to serve members without "arduous, burdensome" regulations.

Member credit unions of CenCorp Corporate Credit Union can expect to see some of the capital they contributed over the years in the $2.6 billion corporate returned to them.

Members of Continental Federal Credit Union will now have an expanded line of investment and insurance services thanks to a partnership with XCU Capital Corp.

Charting a new "retail" approach as part of its branching strategy, AllSouth Federal Credit Union formally opens its first Wal-Mart branch Wednesday and has made plans for three more in-store facilities during 2007.

NCUA Vice Chairman Rodney Hood vigorously backed the credit union tax-exemption during an address at Municipal Credit Union's 90th Annual Meeting at a time when a bill is in the state legislature to tax federal credit unions in the state.

The $1.1 billion Polish and Slavic Federal Credit Union has hired a former CU employee to be its new CEO. Bogdan Chmielewski, 42, had worked for the credit union for nine years and became a branch manager in 2001.