The National Credit Union Administration has designated Cleveland as an area underserved by financial institutions, allowing a credit union there to expand its pool of potential members citywide.

KINGSTON, N.Y.-A novel technology has brought 24/7 full-service banking to Mid-Hudson Valley FCU, helped attract hundreds of new members in 2009-at no net cost.

Despite lower credit costs, MutualFirst Financial Inc. in Muncie, Ind., returned to the red last quarter because of higher impairment charges on its securities.

Cornerstone Bank in York, Neb., has agreed to buy Harvard State Bank, also in Nebraska, for an undisclosed sum.

Bank of Commerce Holdings in Redding, Calif., is looking to join the ranks of companies raising capital for possible acquisitions.

For the New York bank, 2009 — its first year — was one for the record books. While many other community banks were tempering growth or even shrinking, the $433 million-asset start-up grew faster in its first year than had almost any other U.S. bank established over the past decade.

Is Herald National Bank flying too close to the sun? For the New York bank, 2009 — its first year — was one for the record books. While many other community banks were tempering growth or even shrinking, the $433 million-asset start-up grew faster in its first year than had almost any other U.S. bank established over the past decade.

Portfolio Recovery Associates Inc., a Norfolk, Va. debt buyer, today reported cash collections rose 20% to a record $95.3 million in the fourth quarter ended Dec. 31, up from $79.2 million in the year-ago period.

MIDWEST

TierOne Corp. in Lincoln, Neb., got a new chief executive and struck a deal to sell nearly half its branches, but remains under the gun to raise a relatively large amount of capital.

The credit crisis is creating new opportunities for collection shops to play a larger role in the success of a company. It also creates an imperative for management to foster excellence.

For the third consecutive month, the Credit Manager's Index is signaling that the recession is over and the economy is expanding, according to a report by the National Association of Credit Management (NACM).

Illinois Attorney General Lisa Madigan today filed four lawsuits against seven debt settlement firms, alleging they are misrepresenting the services they provide to consumers and the impact those services will have on credit ratings. Six executives with the companies also are named as defendants.

Three months after stepping down as the chief executive of Royal Bank of Canada's U.S. operations, Scott Custer is gearing up to build a new bank spanning the Carolinas and Virginia.

Legislation set to be introduced in Minnesota later this month would ban the practice known as "re-aging" delinquent accounts, making it more difficult for debt buyers to collect debts - particularly in cases where the amounts owed cannot be verified.

The Federal Trade Commission has proposed a rule that would ban companies that promote foreclosure and mortgage modification programs from charging upfront fees. Instead, such companies would only collect payments after providing services.

RICHLAND, Wash. – Gesa Credit Union said its new corporate headquarters here celebrates its growth and dedication to environmentally-friendly practices.

BCB Bancorp Inc. in Bayonne, N.J., said Tuesday that its fourth-quarter earnings fell 80% from a year earlier, to $434,000.

Superior Bancorp in Birmingham, Ala., said Tuesday that it swung to a fourth-quarter loss of $11.5 million, from a $1.1 million profit a year earlier.

First Defiance Financial Corp. in Ohio has revised its fourth-quarter earnings.