Corporate credit unions

Jay Murray has spent 30 years with the corporate credit union but plans to leave in June to spend more time with family.

About 2,000 credit unions will receive a disbursement in connection with the failure of three corporates during the financial crisis, but the agency indicated nearly $2 billion in additional payments could be coming.

The new initiative is aimed at boosting credit union innovation through investments in fintech and other areas.

Credit unions' credit and debit card portfolios could see a surge this week as the online retailer offers two days of deals, while the industry's regulator is set for a cybersecurity update.

A site run by Keith Leggett, a former American Bankers Association senior economist, was frequently critical of credit unions and called for parity among federal regulators.

Many in the industry support the National Credit Union Administration’s attempts to streamline regulations governing corporate credit unions, but critics claimed some elements could make it tougher to compete with fintechs.

In spite of the pandemic, the Columbus, Ohio-based corporate credit union was able to return the funds to some owners on the strength of strong earnings through the firs two quarters.

A recent blog post argues that the industry must get ready for the possibility of the Federal Reserve lowering rates below zero.

Nearly 900 institutions are set to receive a payout related to the demise of Southwest Corporate FCU, but the agency could ultimately return as much as $2.5 billion tied to the corporate credit union failures of 2009 and 2010.

Three corporate credit unions serving more than 70% of the industry have banded together for a new effort following Catalyst Corporate's purchase of Aptys Solutions in late May.

The corporate credit union has begun transitioning nearly 600 clients to the new platform.

All 11 corporates have signed on as agent members of the CLF, boosting its borrowing authority by $13 billion.

Rodney Hood, chairman of the National Credit Union Administration, says the agency's Central Liquidity Facility can be a vital backstop if a crisis occurs, but it will be stronger if more credit unions chip in to make it a success.

A credit union-specific liquidity backstop is far less popular than other options such as the Federal Reserve's discount window. The National Credit Union Administration wants to change that.

The National Credit Union Administration board unanimously approved changes to an interim rule regarding the regulator's Central Liquidity Facility.

For the second time in a week, the National Credit Union Administration has delayed the deadline for public comment on a proposed regulation.

The Plano, Texas-based corporate credit union closed out the decade with a new milestone.

Vizo Financial Corporate Credit Union held its board election while other organizations announced promotions and awards.

At the end of the second quarter, the corporate institution will waive service fees and issue bonus dividends to its member credit unions.

Several megabanks have sued the National Credit Union Administration claiming breach of settlement in a previous case related to mortgage-backed securities, but trends may favor the agency.