Palash Ghosh

Biloxi, Miss. — Keesler Federal Credit Union here announced it has paid out a loan interest rebate and deposit bonus dividend of about $3.4 million to its members.

ALEXANDRIA, Va. — NCUA will host a webinar Feb.18 that will show how credit unions can find and develop new opportunities among unbanked and under-banked markets across the nation.

Federal regulators announced guidance Thursday that provides principles institutions should consider in setting policies and procedures for originating private student loans with graduated repayment terms.

NCUA, in partnership with the State Liaison Committee (SLC) of the Federal Financial Institutions Examination Council (FFIEC), announced new guidance for credit unions and banks on private student loans with graduated repayment terms at origination.

Alexandria, Va. — Pentagon Federal Credit Union (PenFed), the $18.6-billion institution based in Alexandria, Va. has introduced a new financial product for its membership: the "Access America" checking account.

RALEIGH, N.C. — Coastal Federal Credit Union said it has paid out in excess of $2.1 million in special dividends, earned by members through its VIP Program, making it the largest such payout in the four-year history of the program.

ALEXANDRIA, Va. — NCUA announced that Peggy Sherry has been named as the agency's deputy chief financial officer, effective today.

Since the economic near-collapse of 2007-2008 that triggered a bloodbath of lost jobs, foreclosures and business failures, credit unions have increasingly entered the field of financial counseling to help members better manage their money — and help stave off delinquencies and charge-offs in the process.

Ontario, Calif., — CU Direct Corp. announced that its board approved the payment of a 3% cash dividend to its 104 credit union shareholders, making it the tenth straight year that the company has issued a cash dividend to shareholders.

Credit unions have mushroomed in popularity in recent decades as fees charged by commercial banks drove millions of Americans towards the not-for-profit financial services sector.

Bethpage Federal Credit Union announced that it has appointed Wayne Grossé as its president and chief executive officer.

NEW YORK — The National Federation of Community Development Credit Unions said it has introduced a new technical assistance program for credit unions that will feature a free TA hotline for Federation members, and has also established fee-based consulting services, which will be discounted for Federation members.

Credit unions provide better interest rates on customers' checking and savings accounts than other financial institutions, according to a report from personal finance social network WalletHub, a unit of Evolution Finance.

RALEIGH, N.C. — State Employees' Credit Union (SECU), a $29-billion institution based in Raleigh, N.C., announced that President Barack Obama praised SECU for providing its consumer loan members with free access to their FICO credit scores.

In the wake of the incident at Morgan Stanley, where a former employee allegedly stole client data, experts suggest credit unions must revisit everything from how they screen potential candidates for hire to the policies in place when an employee is terminated.

An important facet of the credit union business model is its tax-exempt status, a situation that has long infuriated the banking industry that has sought to get it repealed.

An unrelenting barrage of new credit union rules and regulations have jacked up the cost of doing business, forced hundreds of small CUs to merge or close and compelled many others to devote precious time and money to dealing with the seemingly endless blitz of overwhelming bureaucratic paperwork from Washington.

Of the innumerable regulatory items (passed or pending) that have been causing headaches for credit unions, perhaps none raises more concern than NCUA's proposed risk-based capital rule.

NEW YORK — Coopera, a credit union consultant for the Hispanic market, and the National Federation of Community Development Credit Unions, are teaming up on a program to extend credit union products and services to the widely unbanked and under-banked Hispanic immigrant community.

American Airlines Federal Credit Union said it distributed more than $12.7 million in dividends to qualifying member-owners on Dec. 20, 2014.