Content classifications

ALEXANDRIA, Va. – NCUA said this afternoon it shuttered California’s tiny Pepsi Cola FCU, the second California credit union failure of the day and fourth failure overall for 2013.

ALEXANDRIA, Va. – NCUA said this morning it shuttered I.C.E. FCU, a $3.4 million Inglewood, Calif., credit union and the third failure of 2013.

Fourth-quarter 2012 data for credit unions shows an increase in both loans and deposits at credit unions, with lending strongest in North Dakota and Oklahoma and weakest in Nevada.

The business model for many small credit unions appears to be changing-by necessity-with at least one CEO saying it's now fee income supporting the loan process.

In taking on the low-income credit union designation (LICU), Cathie Mahon cautions CUs to avoid some common misperceptions about low-income consumers-that they are without means and are not technologically savvy.

A list of the top 200 credit unions by assets.

NAPLES, Fla. – ACI Worldwide, which acquired S1 Corp. last year, announced this morning it has completed the acquisition of Online Resources Corp., the provider of payments services to of 1,000 credit unions, banks, billers, credit card issuers, and other credit and payment service providers, for $126.6 million in cash.

TAMPA, Fla. -- Card Services for CUs is offering credit union members the ability to capture data on every Visa credit and debit card transaction made with VisaVue Online, a web-based tool that offers a variety of options for analyzing credit and debit cardholder usage.

Consumers banking with credit unions are more confident in the current economy year-over-year, according to data from the Discover U.S. Spending Monitor.

All of the discussion, debate and threats surrounding the federal sequestration and potential cuts to agencies and personnel had credit unions scrambling to make tentative plans to respond last week.

ALEXANDRIA, Va. – Earnings at the nation’s credit unions continued to surge in the fourth quarter, creating record net income for the year, NCUA reported this morning, the latest sign the travails of the financial crisis have been left behind.

WOODBURY, Minn. – Postal CU yesterday said it paid its most loyal members a bonus dividend totaling $535,000 as part of its VIP Program.

Rich Weissman, president CEO of DMA, outlined five funds transfer pricing models, from simple to complex.

NCUA last week asked a federal bankruptcy court in the huge Residential Capital Chapter 11 bankruptcy to expedite more than $300 million of claims related to the 2009 collapse of WesCorp FCU, one of dozens of investors in mortgage-backed securities issued by the one-time subprime mortgage subsidiary of GMAC.

ALBUQUERQUE, N.M. – New Mexico Educators FCU, the state’s second biggest credit union with $1.3 billion in assets, said this afternoon it has agreed to acquire troubled New Mexico Energy FCU, a $49-million credit union also based in Albuquerque.

ALEXANDRIA, Va. – The NCUA Board this morning added Treasury Inflation Protected Securities, Treasury securities indexed to the rate of inflation that are known as TIPS, as permissible investments for federally chartered credit unions.

DETROIT – The Michigan Office of Financial and Insurance Regulation yesterday shut down and liquidated Amez United CU, a credit union with just $169,000 in assets and serving 158 members churches in the Detroit district of the Michigan Conference of the African Methodist Episcopal Zion Church.

For credit unions to improve non-interest income this year, or just keep to keep that line item flat, they will need to focus on several key areas-including overdraft fees and new fees charged for the CU's service and expertise, according to one person.

With three bogeys on the horizon threatening non-spread revenue, Dave Colby thinks the best ways to attack those potential problems are to increase the volume of activity on transaction accounts and simply grow loans.

Credit unions still have plenty of opportunity to boost their non-interest income streams through interchange revenue, but they need to take action now if they don't want to lose that business once mobile and EMV become major players.