Content classifications

SAN ANTONIO-To better protect themselves and member accounts from online threats, CUNA Mutual's Ken Otsuka urged credit unions to implement the following:

HOLLYWOOD, Calif.-One unforeseen side effect of the recession and slow recovery: community development financial institutions are earning a lot more respect.

ALEXANDRIA, Va.-NCUA reported that for the eighth straight month, the NCUSIF equity ratio held stable at 1.29% as of May 31. The NCUSIF ending reserve balance stood at $1.2 billion, which included an increase of $4.3 million in reserves for May.

CLEVELAND-A local church, emerging as one of the biggest victims of last year's collapse of St. Paul Croatian FCU, has filed suit in federal court here over NCUA's denial of a $1.5 million deposit insurance claim, the latest in a growing number of legal claimants in the widening scandal.

Credit Union Journal requested an interview with NCUA to discuss a number of matters surrounding the demise of St. Paul Croatian FCU — including how so many red flags were overlooked or missed — and what steps the agency is taking in light of its own internal report that is critical of the agency. NCUA chose to reply with a written response to those questions.

EASTLAKE, Ohio-The Croatian community here is still trying to sort through the alleged criminal wrongdoing that brought down a credit union that had been a trusted presence in the community for 67 years and whose shutdown has left a void, confusion and anger.

MADISON, Wis.-A report examining credit union trends at mid-year 2011 finds the picture strongly resembles that of mid-year 2010.

SAN ANSELMO, Calif.-A new analysis suggests that the current landscape of business deposits is likely to change as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and in particular, Section 627, which repeals Section 19(i) of the Federal Reserve Act.

NEW YORK- -- Shares in M&F Worldwide, the parent of check printer Harland Clarke, soared 40% to $23.88 as the markets opened this morning after MacAndrews and Forbes Holdings, owned by billionaire corporate financier Ronald O. Perelman, offered to take the company private at a 41% premium.

IRONDALE, Ala.-Corporate America CU announced last week introduced its own mutual fund for credit unions, the Corporate America CU Short Duration Fund.

Glatt Consulting last week said its "Credit Union Industry HealthScore" for Q1 2011 increased to 2.466, a 8.99% change from Q4 2010 and a 1.98% change from Q1 2010.

MADISON, Wis.-CUNA Mutual is now accepting entries for its 12th annual Excellence in Lending Awards, which recognizes outstanding lending results and practices by credit unions.

Two CUNA economists — Steve Rick and Mike Schenk — offered divergent views on a host of issues during a discussion at the CUNA CFO Council.

ALEXANDRIA, Va.-NCUA reported last week that credit union profitability rose to 74 basis points for the first quarter, up from 51 BPs in the fourth quarter of 2010, and the best performance in four years.

SANTA ROSA, Calif. – Redwood CU announced this afternoon it has completed a deal for nearby Cal State Central CU, eliminating another ailing California credit union.

ALEXANDRIA, Va. – NCUA said this morning that credit union profitability rose to 74 basis points for the first quarter, up from 51 bps in the fourth quarter of 2010, and the best performance in four years.

SAN DIEGO-While many professional groups and conferences saw their numbers suffer during the recession, David D'Annunzio is proud to note the CUNA CFO Council had the opposite experience.

SAN DIEGO-Chief financial officers at credit unions across the country say the biggest impediment to improved efficiency is the regulatory burden.

SAN DIEGO-Credit Union Journal asked attendees of the CUNA CFO Council conference here: Do you expect to be profitable in the second half of 2011? What will affect your credit union's bottom line the most, and why?

LAS VEGAS – Silver State Schools CU, the one-time $1 billion credit union struggling to stay afloat, said Monday it will cut employee pay by 2% starting in September to cut cost by $150,000 a year.