News

The $668 million Local Government Federal Credit Union has found a high degree of success with an affinity branded debit card program that seeks to earn the loyalty of the state's firefighters and their families.

Once its serious loan problems became known, regulators wasted little time last month in putting this city's largest credit union, the $362 million Huron River Area Credit Union, into NCUA conservatorship, it was disclosed last week.

On the eve of the hearing on serving the financially disadvantaged targeting funding for the Community Development Financial Institutions Fund, NAFCU President/CEO Fred Becker asked that the funding be raised to $80 million or at least maintaining the FY06 level of $54.5 million.

Participants in recent America's Community Bankers' Government Affairs Conference asked a couple of the congressional speakers for their opposition to the Credit Union Regulatory Improvements Act.

Loans were flat in January, according to CUNA's monthly estimates, which is not unusual, but the 0.5% savings decrease for the month caught the eye of CUNA Chief Economist Bill Hampel.

Credit unions which process their card accounts with TNB Card Services, the card processing arm of credit union-owned Town North Bank, and that worked with TNB on their all new card promotions, have been well rewarded for doing so, the card processor has reported.