Many financial institutions mistakenly think of effective duration as a measure of time, as opposed to a measure of price sensitivity. When measuring duration in terms of time, institutions are actually calculating a "Macaulay" or cash flow duration. Effective duration represents the percent change in the price of an asset for a given change in rates.

WASHINGTON—NAFCU and CUNA—once again—are asking NCUA to extend the comment period on the proposed risk-based capital rule another 90 days.

DOTHAN, Ala.—The FDIC and OCC have approved the proposed sale of Flint River National Bank to the $260 million Five Star CU here.

ALEXANDRIA, Va. – After months of negative comment letters from credit union trade groups, NCUA is expected to impose a final rule on capital planning and stress testing at its board meeting April 24.

Another small credit union says it is looking to merge due to increased regulatory burdens, as $26.8 million Santa Cruz County Employees CU, Santa Cruz, Calif., has entered into a merger agreement with $704 million Bay FCU.

During NACUSO's annual meeting last week peaceful acceptance of a component of NCUA's risk-based capital proposal did not rule the day, with many openly wondering why the agency is assigning a Smart car the risk weight of a bulldozer.

ARLINGTON, Va. — NAFCU's decision to lobby President Obama to consider a credit union representative for a seat on the Federal Reserve Board of Governors appears to be the first time the trade group has lobbied the White House on a Fed appointment.

Walmart's new "Walmart-2-Walmart" transfer service will enable consumers to send money to each other by using the retail chain's store network.

The full capabilities of a core-processing platform are often underutilized until a CU is ready to fire on all cylinders.

WASHINGTON — Demand for loans by consumers and businesses grew in the first quarter, according to a Federal Reserve report released Wednesday.

DES MOINES, Iowa — Momentum is building for debit EMV as the SHAZAM Network and Visa Inc. announced an agreement Wednesday to enable issuers to use Visa's common debit application identifier (AID) for Visa- and SHAZAM-branded cards and transactions.

HAMPSHIRE, U.K. — Payments via mobile devices are expected to reach $507 billion globally this year — a 40% increases year over year, according to a recent study from Juniper research.

ORLANDO — CUSO leaders were given an update on NCUA's relatively new oversight of their operations by a trio of agency reps at the NACUSO annual meeting here.

RANCHO CUCAMONGA, Calif. — CO-OP Financial Services has entered into an agreement with Visa to make the Visa EMV common debit solution available to its credit union clients.

ARLINGTON, Va. — The National Association of Federal Credit Unions is lobbying President Obama to consider a credit union representative for a seat on the Federal Reserve Board of Governors.

The automated teller machine — a technology that dates to the 1960s — is taking on new relevance in the age of digital banking.

ORLANDO, Fla. — Virtual currencies such as Bitcoin are largely viewed skeptically by credit unions as a potential threat, but at least one person sees some opportunities for revenue.

WASHINGTON — Questions are being raised about whether Senate Banking Committee leaders will delay a pending vote on their mortgage finance reform bill as they struggle to secure additional votes.

RANCHO CUCAMONGA, Calif. — CO-OP Financial Services announced today that it delivered a shareholder dividend of $30.5 million for fiscal year 2013, a 17% increase from the previous year.

ARLINGTON, Va.—The federal appeals court decision to uphold the Fed's debit interchange guidelines is expected to drive more EMV conversions and send merchants' fight for lower swipe fees back to the open market, say industry analysts and credit union CEOs.