BROKER CHARGED IN CU LOAN FRAUD
SALT LAKE CITY-A mortgage broker was charged with altering applications for mortgage loans provided to two local credit unions, one of which went bust in 2008 in the face of big losses on its mortgage portfolio.
SUSPECT ARRESTED IN ATM THEFT
PALO ALTO, Calif.-A man charged with stealing three Stanford FCU ATMs is believed to be responsible for others of the almost 120 ATM thefts in the Bay Area over the past year-and-a-half.
FORMER CU CEO COMMITS SUICIDE
MADISON, Wis.-Authorities say the former CEO of Rapids Municipal CU committed suicide last November, the day he was scheduled to plead guilty to stealing almost $650,000 from the defunct credit union.
HEARTLAND TO PAY $41 MILLION
PRINCETON, N.J.-Heartland Payment Systems has agreed to pay MasterCard issuers $41.4 million to settle claims in the massive cards breach of 2008. Heartland paid out $60 million to Visa issuers in January in exchange for pledges for credit unions and banks not to bring civil suits in the case, in which an estimated 130 million accounts were exposed to hackers.
CU PLEDGES $53M TO STUDENT LOANS
DAYTON, Ohio-Wright-Patt CU has committed at least $53 million to private student loans, including for graduate school. The private loans are being offered through the Credit Union Student Choice program, which Wright-Patt helped found.
FIGHT ERUPTS OVER CLEARVIEW NAME
PITTSBURGH-Saying the similar names are confusing its members, Clearview FCU, formerly a US Airways employees credit union, filed suit in federal court claiming the adoption of the name Clearview Credit, Inc., by a Florida credit counselor infringes on the credit union's copyright and trademark.
VISIONS LAUNCHES MOBILE BANKING
ENDICOTT, N.Y.-Visions FCU has rolled out an enhanced mobile test and banking program the provides members with access their savings and loan balances, and allows them to transfer funds and make loan payments directly from the Visions mobile banking site, using almost any cell phone.
SUN FCU OFFERS PAYDAY LOANS
ASTON, Penn.-Sun FCU has rolled out a payday loan program, called Sun On Your Side, as part of the credit union's expansion into underserved communities surrounding its West Lawn branch near Reading.
HEALTHNET FCU UNVEILS NEW HOME
CORDOVA, Tenn.-HealthNet FCU opened a new main office last week that includes a branch office with drive-up service, a night depository and ATM. The $42 million credit union will open a new branch next month in the St. Francis Hospital Complex.
COLO LEAGUE CEO DILL STEPS DOWN
DENVER-John Dill stepped down as president and CEO of the Credit Union Association of Colorado, the board of directors of CUAC said. The league indicated there was no "problem" that lead to Dill's departure, merely a "change in direction."
KANSAS CUS ON QUEST TO COMBINE
TOPEKA, Kan.-Credit Union 1 of Kansas and Credit Unions United decided to end their quest for a new name after their merger, which created the state's fourth-largest CU.
FICO GETS NEW PATENTS APPROVED
MINNEAPOLIS-FICO, the provider of the eponymous credit score, said its FICO Labs was awarded eight new patents by the U.S. Patent and Trademark Office covering fraud detection, and other credit score analytics.
