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Subprime Mortgage Market is a 'Quiet but Devastating Disaster,' CU CEO Tells Congress

By Sarah Snell Cooke

Self-Help Credit Union CEO Martin Eakes, also CEO of the Center for Responsible Lending, told the Senate Banking Committee during a Feb. 7 hearing that the "subprime mortgage market today is a quiet but devastating disaster." He continued, "The ultimate effects are very much like Hurricane Katrina, as millions of...

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NAFCU Services Names Fifth Third as Preferred EFT Provider

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NCUA Approves Final Rule on Loan Maturities, Services to Nonmembers; Delaware FCU FOM Appeal Denied

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February 20, 2007

FinCEN Vows to Keep Financials Informed of BSA Results During Joint Webinar with NCUA

Credit unions are all for combating terrorist financing and money laundering, but they would like to see the fruits of their labor when they look at the benefits versus the headaches of all their required documentation under the Bank Secrecy Act.

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February 13, 2007

Sandia Laboratory FCU N.M.'s First Billion Dollar CU

Sandia Laboratory Federal Credit Union is the latest member of the credit union billion-dollar club.

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February 13, 2007

Northeast Credit Union Launches MyFunds

Northeast Credit Union is counting on MyFunds to help prove it pays to start saving young.

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February 13, 2007

Corporate Credit Unions by Assets, ROA, Operating Expenses

While corporate credit unions' balance sheets in large part reflect what is happening with their natural person members, corporates do vary in two key categories--return on assets and operating expenses.

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February 13, 2007

SBA Says FY 2008 $814 Million Budget Reduces 7(a), 504 Program Fees

The Small Business Administration's 7(a) loan program could receive $17.5 billion and its 504 loan program would be earmarked at $7.5 billion under President Bush's fiscal year 2008 budget.

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February 13, 2007

Marksberry Named EVP/COO Of Delta Community CU

Delta Community Credit Union has promoted Todd Marksberry to executive vice president and chief operations officer.

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February 13, 2007

Overdraft Protection Optional at Leading CU

Approximately 15% of the 588,000 members of the $3.9 billion Security Service Federal Credit Union used the credit union's overdraft protection program in 2006 according to John Worthington, senior vice president for communications for the credit union, and most of them used it to cover electronic transactions, he said.

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Top News Stories

Subprime Mortgage Market is a 'Quiet but Devastating Disaster,' CU CEO Tells Congress

NAFCU Services Names Fifth Third as Preferred EFT Provider

NCUA Approves Final Rule on Loan Maturities, Services to Nonmembers; Delaware FCU FOM Appeal Denied

Recommended Just For You

News Stories

FinCEN Vows to Keep Financials Informed of BSA Results During Joint Webinar with NCUA

Sandia Laboratory FCU N.M.'s First Billion Dollar CU

Northeast Credit Union Launches MyFunds

Corporate Credit Unions by Assets, ROA, Operating Expenses

SBA Says FY 2008 $814 Million Budget Reduces 7(a), 504 Program Fees

Marksberry Named EVP/COO Of Delta Community CU

Overdraft Protection Optional at Leading CU