• Van Tel CU, Vancouver Safeway discuss merger

    VANCOUVER, B.C.- Two of the largest employee-based credit unions here -Van Tel CU and Vancouver Safeway Employees Credit Union-are discussing a possible merger. According to Vancouver Safeway CEO Bob Luxford, since the branches of the credit unions complement each other, members will enjoy better delivery options and a wider range...

  • WOCCU celebrates 30th anniversary

    MADISON, Wis. - World Council of Credit Unions celebrated its 30th anniversary as the world's leading advocate and development agency for credit unions. Incorporated in 1971 and previously known as the CUNA World Extension Department, WOCCU at its formation consisted of three national confederations including the U.S., Australia and Canada,...

  • Prime Alliance Solutions launches a "Lite" version of online mortgage piece

    MINNEAPOLIS - Prime Alliance Solutions, a joint-venture between IT firm Dexma Inc. and the $4 billion Boeing Employees' Credit Union, has launched a mortgage technology solution geared for small and mid-sized credit unions. Known as Prime Alliance Lite, the Net-based system enables these sized credit unions to originate loans via...

  • Fragile: Handle with care CUNA and the OTR debate

    WASHINGTON-While NAFCU and NASCUS had staked out their claims in the overhead transfer rate debate, CUNA's position, representing both state chartered, federally-insured and federal chartered credit unions, called for more delicate handling. CUNA Associate General Counsel Mary Dunn said, "[The overhead transfer rate issue] is driving a wedge between state...

  • House and Senate to consider CLF, CDRLF, CDFI funding

    WASHINGTON-The Senate Approp- riations Committee approved the VA-HUD and Independent Agencies appropriations bill setting the borrowing cap for the Central Liquidity Facility (CLF) and granting funds to the Community Development Financial Institutions (CDFI) Fund and the Community Development Revolving Loan Fund (CDRLF) Program. The CLF borrowing authority, which has no...

  • CO-OP, Access Cash double surcharge-free ATMs

    ONTARIO, Calif. - While the IRS is handing out advanced tax refund checks, the CO-OP Network is offering members more surcharge-free ATMs. Through an agreement with St. Paul, Minnesota-based Access Cash International, Inc., a provider of self-service financial products, CO-OP Network's nine million cardholders now have 12,000 surcharge-free ATMs in...

  • NCUA Board acts unanimously on a number of key issues

    ALEXANDRIA, Va.-Even though nearly all the issues addressed at the July NCUA Board meeting were very significant to the credit union industry, the meeting ran as smoothly as any of the others this year. During the meeting, the NCUA Board members approved unanimously every single item that came before them,...

  • Michigan state legislature makes it possible for credit unions to convert to thrifts

    NORTHVILLE, Mich. - It's happened again. Add Michigan to the growing list of states that have enacted legislation providing a mechanism for state-chartered credit unions to convert to mutual thrifts. Less than two weeks after the Rhode Island state legislature passed similar legislation (CU Times, July 25), the Michigan House...

  • Small and low-income credit unions are as healthy as the rest

    ALEXANDRIA, Va.-NCUA's Office of Credit Union Development (OCUD) recently released its report on the programs for small and low-income credit unions and their activity. OCUD administers the Small Credit Union Program (SCUP) and the Low-Income Designation Program, with a focus on safety and soundness, guidance, and facilitating expansion of credit...

  • Web links offer opportunity to serve but also can be a disservice

    ROCK HILL, S.C. - Lee Gardner knows about the pitfalls of portals. When his credit union discovered the car-pricing service linked to their Web site was advertising an unaffiliated auto-financing service, it pulled the plug on that relationship. Gardner is president/CEO of Family Trust Federal Credit Union (www.familytrust.org) in Rock...