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Rather than slowing down, the membership drive spurred by last fall's Bank Transfer Day sped up in the first and second quarters of the year to a record pace, according to data from NCUA.

Are credit unions ready to fill the gap resulting from what could be a sharp drop in revenue over the next three years?

WASHINGTON – Falling market rates and lack of competition have combined with declining non-interest income to force credit union savings rates to all-time lows.

RALEIGH, N.C. – The state CU Commission has denied an appeal—the second--by former directors of the Greater Kinston CU of February’s state takeover in the wake of conflict of interest allegations involving loans made by the one-time $17 million community development credit union.

Kentucky's Commonwealth Credit Union may have to account for a pension funding shortfall that could take a multi-million-dollar bite out of its capital.

One question that remains unanswered is how did Commonwealth Credit Union come to be a participant in a pension fund set up for employees of the state of Kentucky.

Don Shafer, chairman and co-founder of Austin, Texas-based BancVue explains how to keep the credit union business model relevant.

ALEXANDRIA, Va. – Credit unions continued to strengthen their balance sheets in the second quarter of the year, reporting a 1.7% growth in loans, the highest quarterly growth in lending since 2008, NCUA reported this morning.

FERNDALE, Wash. – Industrial CU has agreed to acquire Ferndale Refinery CU, a 57-year-old, $5 million credit union.

WINSTON-SALEM, N.C. – Allegacy FCU will acquire two branches with a deal to merge I-R Employees FCU, a $10 million credit union for employees of Ingersoll Rand.

MIAMI – South Florida Educational FCU has paid a special Shared Earnings Dividend of $2 million to its members.

ARLINGTON, Va. – While credit union performance metrics in June showed improvement in several categories, lending slowed, according to NAFCU’s Economic & CU Issues Monitor.

Both Fannie Mae and Freddie Mac last week reported strong profits for the second quarter of 2012, indicating the worst of the real estate crisis may be over.

TEMPERANCE, Mich. – NCUA and the Michigan Office of Financial Insurance Regulation yesterday closed United Catholic CU, which had $300,000 in assets and 200 members.

GREENBELT, Md. – Educational Systems FCU is assessing members of Montgomery County Teachers FCU an unusual one-time $35 fee to help defray the costs of absorbing the troubled $400 million Rockville, Md., credit union.

SACRAMENTO, Calif. – State regulators approved the mergers of five more troubled credit unions yesterday, including two by Credit Union of Southern California, the $600 million Brea credit union’s third merger of the past few months.

PHILADELPHIA – The president of a small community development credit union was charged this afternoon with embezzling $2.3 million from the institution, which led to last year’s failure.

WALL STREET – Vantiv, the cards processor for 800 credit unions, said Advent International, the Boston money firm that took the company public this spring, plans to cash out some of its stock at an estimated $60 million profit.

Research released last week shows credit unions were outpacing banks in deposits long before 2011's Bank Transfer Day drew attention to the issue.

CINCINNATI – Payments processor Vantiv, spun off from Fifth Third Bancorp in March, reported a quadrupling in second quarter earnings to $20 million as it processed more card transactions.