• Kinecta FCU At-A-Glance

    * Main office in Manhattan Beach, Calif. * Total of 28 branches located in California, Virginia, and Maryland; * Chartered in 1940 as Hughes Aircraft Employees FCU; * Originally served the employees of Hughes Aircraft Company, with company founder and multi-millionaire Howard Hughes saying, "Sure, start the credit union. Just...

  • What is Discovery?

    TORONTO - CUNA Mutual Group's Discovery Conference is a relatively young conference, this year being only the sixth edition. "Attendance for this conference doubled in 1999 and then doubled again this year," said Wayne Benson, chief officer of sales and marketing for CUNA Mutual Group. This year's Discovery attracted about...

  • More federal to state conversions, underserved expansions up in May

    ALEXANDRIA, Va.-Though the trend seems to be greatly slowing, NCUA approved two federal to state charter conversions in May. The two credit unions, OmniAmerican and Fort Worth Community both of Fort Worth, Texas, brought with them more than $1 billion in aggregate assets. Additionally, 32 expansions into underserved areas were...

  • CU Realty upgrades site

    SCOTTSDALE, Ariz. - CU Realty, an online real estate solution for credit union members, has added a number of new features to its site, www.curealty.com. The site is designed to assist homeowners, buyers and sellers connect and simplify their transactions. The enhanced site features include the following: * A market...

  • Mortgage lending surge continues, auto lending braces for a solid year: Callahan reports

    WASHINGTON - Real estate lending continues to proliferate as some credit unions explore options on how to apply the brakes to the demand, according to Callahan & Associates, Inc. The firm held its latest Trend Watch conference call on June 25 with more than 25 credit union executives and vendors...

  • Pa. legislature rescinds Philly anti-predatory lending ordinance

    PHILADELPHIA - After unanimously passing a bill in April that placed tough restrictions on subprime loans, the Pennsylvania state legislature did an about-face and passed a bill overturning Philadelphia's anti-predatory lending regulation. Specifically, the new law-H.B. 1703-pertains to loans with rates 4.5 percentage points above Treasury securities of comparable maturity....

  • Realtor vs. bank fight continues

    WASHINGTON - The National Association of Realtors and its members are still pushing for additional congressional hearings to be held on a controversial rule proposed by the Federal Reserve and U.S. Treasury that would allow banks to offer real estate brokerage services. NAR and individual realtors began lobbying Congress in...

  • Texas Credit Union League mulls name change

    FARMERS BRANCH, Texas - First it was called the Texas Credit Union League, then it wasn't, then it was again. What the Texas Credit Union League will be called after its next name change is approved is anyone's guess. The league, at the directive of the board of directors, is...

  • NAFCU writes Congressional leaders in support of Flexible Savings Accounts

    WASHINGTON-In a letters to three separate lawmakers last week, NAFCU extolled the virtues of H.R. 1590, the Flexible Savings Accounts (FSA) Rollover bill. NAFCU points out that the bill not only helps consumers but also employers and financial institutions. Many employees set money aside in FSAs for medical emergencies, but,...

  • Quotes worth quoting

    "It would be great if we were able to get rid of predatory lenders, but we won't be able to get rid of subprime lenders because there's nowhere else for people who have had an unfortunate financial experience to go for loans." -Colleen Kelly, state governmental affairs director, CUNA "I'm...