News

As banks continue to look beyond their traditional markets for more revenue streams, at least one bread and butter mainstay as well as a burgeoning area for credit unions will be targeted more aggressively this year.

Asset Exchange, a leading broker of credit union card portfolios, has publicly announced a change in policy. From now on the firm will represent the credit union looking to sell its card portfolio and not the organizations looking to buy it.

A merger between Travis Credit Union and Napa Valley Schools Federal Credit Union is targeting March 31, 2007 for completion.

Gentrification, the process whereby lower income areas first draw investment to develop and then often experience higher land values and rents on account of the development, is claiming the National Federation of Community Development Credit Unions as its latest victim.

There has been a clear sea change in the use of CU debit/ATM cards, moving away from being primarily the means for accessing cash at ATMs to becoming more of the universal payment cards the financial industry has long sought.

Spartan stores, a leading regional grocery retail and wholesale operator with more than 87 retail stores located in Michigan and northwest Ohio has decided to start accepting so called contactless payments, according to MasterCard.