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ALEXANDRIA, Va. - Credit unions must adhere to using a person with at least two years of direct experience with the type of business loans they will make, NCUA recently wrote. In a Aug. 9 opinion letter, NCUA Associate General Counsel Sheila Albin addressed Centennial Lending, LLC's clarification if a...

WINSTON-SALEM, N.C. - Allegacy FCU has joined the growing ranks of credit unions with $1 billion or more in assets. Chartered in 1967 by R.J. Reynolds Tobacco Company, Allegacy has more than 92,000 members and its field-of-membership includes more than 400 sponsor companies and organizations such as R.J. Reynolds Tobacco...

MADISON, Wis. - Credit union board members generally have a confident level of satisfaction about their role but some areas need a little more work. This, according to a new study from the Filene Research Institute, Enhancing Board Satisfaction at Credit Unions, which explored the perceptions of directors and CEOs...

ALEXANDRIA, Va.-In July, $3.2 million Norwest Medical Federal Credit Union became the ninth credit union approved for a TIP-trade, industry, or profession-charter. The Portland, Ore. credit union was approved to serve the healthcare industry within Multnomah, Clackamas, and Washington counties of Oregon, and Clark County in Washington. Following the charter...

WAYCROSS, Ga. - The Atlantic Coast Federal Corporation, the stock issuing arm of the former Atlantic Coast Federal Credit Union which became Atlantic Coast Federal Bank in November of 2000, has begun selling stock to its depositors at $10.00 per share. The company told the Securities and Exchange Commission originally...

FAIRFAX, Va. - Members considering purchasing a pre-owned car and use Carfax to get background information on a vehicle can now get expanded service information from the Carfax Vehicle History Reports. Potential owners can find more detailed service records on how the vehicle was maintained. This information includes detailed records...

COLUMBUS, Ohio - Congresswoman Deborah Pryce's visit to Corporate One's headquarters on August 19 wasn't just a meet and greet, it became a hands-on visit. Pryce (R-Ohio) arrived around 8:30 in the morning and was briefed by Corporate One executives on corporates, credit union taxation, capital issues, and other critical...

WASHINGTON - As the heat gets turned up a notch on credit union CEO compensation disclosure, the IRS is moving forward with a new enforcement effort to identify and halt abuses by tax-exempt organizations that pay excessive compensation and benefits to their officers and other insiders. Earlier this summer, an...