Western Federal Credit Union of Manhattan Beach, Calif., has agreed to use core processing software from Jack Henry & Associates Inc.
Jack Henry, of Monett, Mo., said Wednesday that the $1.2 billion-asset credit union plans to install its Episys core account processing system in-house.
Western Federal plans to use the new core system after it completes its deal, announced in June, to buy the $250 million-asset Toyota Federal Credit Union of nearby Torrance.
President Donald Trump has tapped Treasury official John Crews to be the next chair of the National Credit Union Administration.
Parker Group unexpectedly ceased operating last week, then filed for Chapter 7 bankruptcy a few days later as sponsor banks and customers were left scrambling.
The Consumer Price Index for April showed consumer prices rising across all categories, including food and shelter costs, and up 3.8% year-over-year. Grocery prices rose 0.7% from the month prior.
Plans were moving along smoothly for a new data center in Franklin County, Missouri — until residents found out about it. Now the project is facing a fierce public backlash, and a local community bank is caught in the crossfire.
Regulatory proposals are boosting interest for banks to grow in mortgage, but sustainability demands deliberate, rather than reactive, strategy, experts say.
The Village Bank is already mulling expanding the concept to other locations if the one planned for its Wellesley, Mass., office lives up to expectations.
