CUs Pitch Modified HELOC Bill
AUSTIN, Texas-Credit unions, opposed to a home equity line of credit bill introduced in the House, are lobbying for
"The Senate bill is a much broader bill," Texas CU League President Dick Ensweiler told The Credit Union Journal.
But the Senate bill would allow for unlimited lines of credit; more frequent monthly payments; rollovers into first
The proposals follow the 1997 law allowing financial institutions to provide home equity loans for the first time, but
BECU Breaks Trust Barrier
TUKWILA, Wash.-Boeing Employees CU said its BECU Financial Services CUSO has opened a new trust
BECU Trust Co. will offer investment management, living trusts, estate and financial planing, executor services and
CUs Seek Deposit Cap Increase
BOSTON-Credit unions are working again to increase the state-mandated ceiling on member deposits, one of the
A bill before the House Banking Committee would increase the cap from the current $250,000 per individual
"The fact is, we're looking to eliminate it altogether, but we believe this is reasonable," Dan Egan, president of the
A bill to scrap the deposit limit died in last year's legislature.
State law requires that all deposits in state- chartered financial institutions be insured, so those additional deposits
The Massachusetts league is also lobbying for legislation which would eliminate the state's 25-mile branching limit,
PSCU Owners Share Big Payday
ST. PETERSBURG, Fla.-PSCU Financial Services said it is paying its 500 credit union owners a dividend
The card processor cited several reasons for the dividend, pointing to cost cuts related to the closure of small regional
The company has distributed more than $74 million in dividends to its credit union member/owners since 1974.
Liberty Offers Lending Service
MOUNDS VIEW, Minn.-Liberty Enterprises said its FiTECH Systems unit has signed with Baker Hill Corp. to
Under the deal, FiTECH will offer Baker Hill's LiquidCreditBank2Business loan origination system, a hosted
Police CU Chief Found Guilty
HUNTINGTON, W.V.-The former manager of Huntington Policemen's FCU pleaded guilty to federal charges of
Shirley McClanahan, 56, a retired school teacher, pleaded guilty to writing hundreds of checks for amounts ranging
The scheme was uncovered in February when the CU was merging with nearby Huntington Area Postal FCU and
New Group Studies CU Economics
WASHINGTON-A group of eight credit union economists has organized a new group that will study credit union
Members of the CU Economics Group are scheduled to meet with Fed Governor Mark Olson Friday to discuss credit