Palash Ghosh

NAFCU is urging NCUA to outline its overarching approach to risk mitigation in the CU system, in light of several recent moves the agency has made or has indicated it will be tackling in the near future.

DENVER — John P. Sheehy, a top lobbyist for the Colorado Credit Union League for 30 years, died Feb. 18, according to the Mountain West Credit Union Association, which succeeded the Colorado league and represents Colorado, Wyoming and Arizona.

KALAMAZOO, Mich. — Educational Community Credit Union (ECCU) has named Julie Blitchok as its new president and chief executive officer, effective March 2, succeeding CEO Charles Cornelius, who is retiring after 36 years of service.

KEY WEST, Fla. — Keys Federal Credit Union, which was placed into voluntary conservatorship by NCUA in September 2009, announced that it generated "improved performance" in 2014 by "focusing on greater efficiency and consumer lending."

Five Star Credit Union in Dothan, Ala., has agreed to buy Farmers State Bank in Lumpkin, Ga.

DOTHAN, Ga. — Five Star Credit Union, a $318-million institution here, and Farmers State Bank, a $47-million entity headquartered in Lumpkin, Ga., jointly announced that they signed an agreement under which FSCU will purchase substantially all of the assets and assume deposits and other liabilities of FSB.

In a report that was inspired by numerous reports suggesting that a dangerous bubble is forming in the subprime auto loan market similar to the conditions that presaged the mortgage meltdown, Equifax Inc. seeks to debunk those claims.

MADISON, Wis. — Summit Credit Union and Educational Employees Credit Union (EECU) announced that they will merge the two institutions in a transaction expected to close this summer.

The Ohio Department of Commerce announced that Robert W. Rutkowski has been named deputy superintendent for credit unions. Rutkowski will begin serving his new post Feb. 23.

The New York Credit Union Association (NYCUA) announced that it has signed a letter of intent to sell its card services subsidiary Covera Solutions Inc., to CO-OP Financial Services.

Credit unions are largely supportive of NACHA's proposal to speed up payments processing to same-day transactions, but both CUNA and NAFCU expressed concerns with some aspects of the proposal, not the least of which is whether consumers will be getting enough bang for the bucks that financial institutions will have to invest to bring this to fruition.

WASHINGTON — The U.S. Small Business Administration (SBA) and NCUA have jointly announced a partnership aimed at encouraging credit unions to make more SBA-backed loans and urging small businesses to turn to CUs for such loans.

WASHINGTON — U.S. Sens. Jerry Moran (R-Kan.) and Heidi Heitkamp (D-N.D) have introduced a bill aimed at alleviating the regulatory burden related to privacy notices.

AUBURN HILLS, Mich. — Members of the Tri-Pointe Community Credit Union of Grand Blanc, Mich., approved a proposal to merge the institution with Genisys Credit Union here at a recent special membership meeting.

EL SEGUNDO, Calif. — Xceed Financial Credit Union announced it has redesigned and updated its website, www.xfcu.org, which features expanded login functions, enhanced product descriptions, and financial education content.

OMAHA — The Nebraska Credit Union League (NCUL) said it has partnered with the National Credit Union Foundation, the U.S. credit union community's 501c (3) charitable organization, to form the Credit Union Foundation of Nebraska (CUFN).

RANCHO CUCAMONGA, Calif. — CO-OP Financial Services announced that it will re-launch its mobile banking application called "CO-OP Mobile."

WABASH, Ind. — Beacon CU is acquiring Midwest Ag Finance, in a rare credit union-bank purchase and assumption.

NEW YORK — The National Federation of Community Development Credit Unions (Federation) released a report that delves into the financial struggles faced by very poor individuals, those with annual household incomes below $20,000.

Credit unions applauded introduction of a bill that would raise the asset threshold for direct supervision by the Consumer Financial Protection Bureau from $10 billion to $50 billion, but the measure's eventual fate remains uncertain.