Michael Bartlett

With many credit unions contemplating outsourcing their mortgage servicing in the wake of potentially complex new rules from the Consumer Financial Protection Bureau (CFPB), one person is warning CUs still can be found liable for mistakes servicers make.

Credit unions are breathing a little easier that they will not be subject to the raft of new CFPB mortgage rules because they believe they're exempt may be in for a surprise.

The "good intentions" of new mortgage servicing rules proposed by the CFPB may ultimately lead to more consolidation, according to one forecast.

It is a good thing the National Credit Union Foundation's Herb Wegner Awards aren't dependent upon self-nominations; otherwise the story of Rick Craig's career and accomplishments might never have been told.

The Northwest Credit Union Association is behind legislation that would allow state-chartered credit unions in Washington state to pay their boards of directors.

Verity Credit Union has relaunched its "Cartwheel For A Cause" contest-a community involvement program that earned the $396-million CU plenty of positive attention in 2011.

The $241-million Clackamas FCU here has turned a Credit Union Journal article into its own success story with a 1%-off, one-day loan sale that booked big numbers.

Altura Credit Union, which has gone through tough times in a tough market, doubled its net income in 2012 over 2011, giving the $655-million CU its "best year in history."

The CARD Act has improved disclosures to consumers, but it has had the opposite effect when it comes to its intended goal of reducing cardholder costs, according to a new analysis.

Just two weeks after issuing new mortgage rules, the Consumer Financial Protection Bureau added 1,800 pages of regulations covering mortgage servicing-which one analyst says will have an impact on systems and staffing at credit unions.

Bob Dorsa, president of the American Credit Union Mortgage Association (ACUMA), said the initial response from his membership to new mortgage servicing rules from the CFPB is that they are going to cost credit unions more money.

The $1-billion Meriwest Credit Union is using predictive analytics to identify potential borrowers.

Advantis Credit Union says its Rehabilitation Mortgage Program is helping to revitalize the communities it serves, boosting its bottom line, and increasing exposure of the $1-billion CU and its mortgage department.

Lost among all the talk of growth strategies credit unions are or should be implementing is the fact CUs in some areas of the country are simply striving to eke out a small net income.

2013 will most likely be a "mixed year" for $7.9-billion The Golden 1 Credit Union, but it will be an improvement from 2012.

The pinch of the recession was barely felt at $5.7-billion San Diego County Credit Union, which has followed a small loss in 2008 with four straight years of solid income-with more expected in 2013.

For $669-million One Nevada Credit Union, the omnipresent watchful eye of "Big Brother" is a good thing.

For $2.1-billion Redwood Credit Union the recession did not bring the kinds of losses than plagued many CUs, but it did knock a hole in its normally robust lending portfolio.

The sentiments behind Bank Transfer Day is still out there, and $746-million Xceed Financial CU intends to tap it.

Mission Federal Credit Union has launched "Mission Fed Money Match," a program that matches the dollar amount of winning members' loan payments, debit or credit card purchases, or direct deposits, up to a certain amount per transaction type.