SACRAMENTO, Calif. – A federal court on Friday ordered the forfeiture to the Drug Enforcement Administration of $67,000 in a Golden 1 CU account held by the owner of a legal marijuana dispensary, but allowed the member to keep $34,000 of the $101,600 seized a year ago.

CORPUS CHRISTI, Texas – Navy Army Community CU announced that Sarah O’Brien, its executive vice president and controller, has been promoted to be president and CEO of the $1.9 billion credit union.

MIAMI-How to make money off mobile banking?

A new study finds that Ohio, Kentucky and Louisiana are among the best states for banking, while Illinois, South Carolina and Oklahoma round out the bottom three worst states.

SEPTEMBER

SAN FRANCISCO-Merchants should not be concerned that many consumers will abort online transactions due to more secure authentication solutions, according to a new Javelin Strategy & Research report.

TECU here has seen an uptick in credit card transactions, outstanding balances and the number of cardholders since debuting its "Care Card," which allows members to donate the value of their card rewards to local nonprofits.

Recurring payments and online bill payments can help a CU remain top of wallet with their cardholders and even prevent cardholder attrition.

Many credit unions and vendors have built sophisticated metrics around various numbers inside CUs. But one area not being measured well is payments, according to one industry insider.

DES MOINES, Iowa-Reducing fraud losses and meeting the major card issuers' liability shift deadlines are primary reasons CUs and community banks are preparing for EMV, according to a new survey from the Members Group.

CLEVELAND-Federal prosecutors have filed papers seeking to seize the $1 million home in suburban Solon owned by Alex Spirikaitis, the fugitive CEO of Taupa Lithuanian CU, which was shuttered by regulators two weeks ago.

New executive compensation data released by the Credit Union Executives Society (CUES) has found an overall increase of 6.43% in CEO base salaries and 8.18% in total compensation this year.

Credit unions have been hearing for some time about the security benefits of EMV, or chip-and-PIN cards.

A new study indicates a big opportunity exists for credit unions to cross-sell new members, and that CUs have a great deal of room to improve profitability and performance in many operational areas.

The new report from Cornerstone Advisors has also discovered a great divide in CUs when it comes to IT.

MADISON, Wis.-Credit unions planning for 2014 should think of themselves like a sports team does, said one industry insider.

FASB Seeking Comment On 'Public Entity' Proposal

Should new credit union examiners spend time working inside CUs before going to work for their respective regulators?

David Keller, vice president of Greater TEXAS FCU the past five years after heading two credit unions, has retired after 43 years with credit unions. Keller was CEO of Handy Andy FCU and Texas Transportation FCU until Texas Transportation was merged into Greater TEXAS FCU in 2008.

A mortgage product introduced to take advantage of a declining rate environment is seeing new interest even as rates rise.