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ALEXANDRIA, Va.-A recent legal opinion letter (04-0453) from NCUA Associate General Counsel Sheila Albin stated that federal credit unions may recover certain costs from investing in a life insurance product to fund an employee benefit, including cost of funds with in limits. She noted that section 701.19 exempts federal credit...

HOUSTON - Aldine Teachers Credit Union is getting a name/brand makeover to ring in the new year. The 52-year old credit union will now be known as InvesTex CU to better represent its growing membership, which includes several other area school districts. With the new tagline "Making Life Better", the...

CALGARY, Alberta - You could call it the grinch policy, but savvy employers insist a code governing holiday or other gifts makes good sense and at the very least can help avoid embarrassment. With the holiday season in gear, it's a policy credit unions will find helpful. After all, even...

VALLEY FORGE, Pa. - USERS Inc. has signed La Capitol Federal Credit Union of Baton Rouge, La., and Amarillo Community Federal Credit Union in Texas for 2005 conversions to the core processor's DataSafe In-House system. La Capitol FCU, with $252 million in assets and about 44,500 members, has been an...

WASHINGTON - The SEC and the American Bankers Association recently met again to discuss the Regulation B proposal that would extend broker/dealer exemptions to credit unions, but neither side is offering further comment. The Oct. 22 meeting was attended by Sarah Miller, director of the ABA Center for Securities, Trust...

FENTON, Mo. - Hoping to tap into a growing lending niche, Alliance Credit Union recently became the first credit union in Missouri to be approved as an SBA lender. The $112 million credit union made the strategic decision to become an SBA lender after the Missouri Division of Credit Unions...

WASHINGTON-Federal Deposit Insurance Corporation insured banks and savings institutions set a new record for net income in the third quarter, according to its Quarterly Banking Profile, despite complaints that credit unions are stealing marketshare away from them. With net income reaching $32.5 billion in the third quarter 2004, banks and...

WALTHAM, Mass. -Are colleges, universities and major research centers the latest prime targets for identity thieves? According to security provider Intrusic Inc., a university data center is an easy starting point for criminals to obtain the information necessary to commit identity theft, cyber-fraud and a string of other crimes. "Universities...