News

HALES CORNER, Wis. - Anyone who follows the corporate CU network knows that it has become much more competitive in recent years. Marc Schroeder, president/CEO of Wisconsin Corporate Central CU, believes since the events of Sept. 11 the competitive fires among corporates may have dimmed just a touch. "It seems...

MIDDLETOWN, Pa. - A number of corporates are now jumping into the electronic bill pay space, calling it a natural outgrowth of their payment systems role. The first to do it was Mid-Atlantic Corporate FCU back in 1999, and the corporate continues to increase volume. Below is a look at...

LONDON, UK - Seven proposals proposed by Her Majesty's Treasury would not only amend the Credit Unions Act of 1979 but would allow United Kingdom credit unions a chance to grow. Until recently credit unions have been limited in membership, services, deposits and loans to choking bounderies. This was changed...

SYDNEY, Australia - When the Reserve Bank of Australia (RBA) expressed some worries about a VISA debit card, credit unions, buildings societies and St. George and Bendigo Banks started talking. Together they put together a position paper on the product. "Visa Debit in Australia is a unique product that combines...

ALBANY, N.Y. - Bart Salazar, CFA, has been named Chief Operating Officer at MemberTrade Advisory Services, LLC, a wholly-owned CUSO of Empire Corporate FCU. Prior to this move, he was Vice President, Investments, at Empire Corporate. Salazar will manage and oversee the daily operations of MemberTrade Advisory Services. MemberTrade Advisory...

MADISON, Wis. - It's only been a year, but it looks as if corporate credit unions are finding some investment value in CUNA Mutual Group's corporate credit union investment line, CUNA Mutual Notes. So far 11 corporates have invested $190 million in Notes. When it was first launched last October...

MANCHESTER and LONDON, U.K. -When members of Camberwell Community Credit Union found themselves without a credit union, the Southwark Credit Union stepped in. Starting this month, Southwark took over Camberwell's operation and is fully servicing the members' existing accounts. Members lost no money in the transfer. The transfer was a...

WASHINGTON - At the Association of Corporate CU's recent quarterly meeting with NCUA, the ACCU voiced its concern over the minimum 2% reserves and undivided earnings ratio in the corporate reg proposal. "I guess the main concern corporates have expressed, without really crunching all the numbers, has been the minimum...