The $1.8 billion Kern Schools Federal Credit Union has sold its credit card portfolio to FIA Card Services, a subsidiary of Bank of America.

The National Cooperative Business Association confirmed that it has been contacted by members of Congress seeking answers to questions about health care cooperatives as the nation struggles to reform its health care insurance system.

U.S. Central Federal Credit Union's $470 million second quarter net loss will force Members United Federal Credit Union to record an additional $81 million hit to its own member capital shares.

Bank collapses, including five last Friday, continue to spur credit union marketing forays with Georgia a case in point this week.