Ed Roberts

Mid-Atlantic Corporate FCU said this afternoon it has completed the merger of Virginia Corporate FCU, the latest corporate combination creating a corporate credit union with $4.1 billion in assets serving more than 800 credit unions.

NCUA liquidated Eastern New York FCU Friday night and assigned the remnants of the one-time $60 million credit union to USAlliance FCU, the $760 million credit union based in the Manhattan suburb of Rye, N.Y.

ALEXANDRIA, Va. — The NCUA Board this morning approved the proposed merger of Tennessee's Volunteer Corporate CU with West Virginia Corporate CU, accelerating the pace of the corporate restructuring.

Corporate One FCU, which announced plans in September to combine with Florida-based Southeast Corporate FCU, said this afternoon the two corporates have signed a definitive merger pact.

Callahan & Associates has hired J. F. Sean Hession, a former executive at First National Bank of Omaha, as the consulting group's president and CEO.

PHILADELPHIA — NCUA this afternoon took People for People Community Development CU under conservatorship while it tries to nurse the troubled CDCU back to health.

BIRMINGHAM, Ala. — The National Credit Union Administration announced this morning it liquidated Birmingham Financial FCU, a $1.3 million community development credit union it has run under conservatorship since October and assigned the remnants of the year's 15th credit union failure to $113 million eCO Credit Union of Birmingham.

Fast-growing Webster First FCU, which entered the Bay State's north shore earlier this year with a deal for Saugus FCU, has agreed to acquire Winthrop FCU, its third merger of 2011, giving it a presence in the Boston market.

ALEXANDRIA, Va. — NCUA announced this afternoon it awarded CO-OP Financial Services, the credit union-owned payments company, the right to acquire the assets of U.S. Central's Corporate Network eCom, the failed corporate’s online and mobile payments services.

ALEXANDRIA, Va. – NCUA this afternoon approved the combination of Treasure State Corporate CU in Montana and Kansas Corporate CU, one of seven corporate mergers pending.

WASHINGTON – The FDIC said today it approved the acquisition of Griffith (Indiana) Savings Bank by United FCU of St. Joseph, Mich., the first bank to be acquired by a credit union.

NCUA has cleared the acquisition by United FCU of Griffith Savings Bank, the first purchase of a bank by a federally chartered credit union, and the deal now awaits approval by the FDIC.

The NCUA approved a serices of mergers for billion-dollar-plus credit unions, which are gobbling up smaller troubled institutions at an accelerating pace.

NASHVILLE, Tenn. — Members of Volunteer Corporate CU approved the combination with West Virginia Corporate FCU to create a $1.5 billion corporate, one of six pending corporate marriages.

An estimated 650,000 consumers have closed their bank accounts and opted for credit union membership over the past four weeks, according to CUNA, bringing the approach to Saturday's Bank Transfer Day to a crescendo.

A former head teller at West-Aircomm Federal Credit Union pleaded guilty to embezzling $400,000 by taking cash from three ATMs.

Fannie Mae has agreed to settle multimillion-dollar claims brought by several of the biggest victims of the massive CU National Mortgage scandal, more than two years after the fraud brought down the largest independent mortgage wholesale provider to credit unions.

In one of the first actions of its kind, the National Credit Union Administration has sued a real estate appraiser it says provided a faulty appraisal for a loan that left the now-defunct Utah Central Credit Union holding the bag for more than $400,000.

United Federal Credit Union in St. Joseph, Mich., has agreed to buy Griffith Savings Bank.

The National Credit Union Administration is suing JPMorgan Chase and RBS Securities, claiming fraud in the sale of billions of dollars in private label, mortgage-backed securities.