Credit unions feeling overwhelmed by the compliance burden should be looking to their respective state leagues, the league's affiliates and business partners, and even third-party vendors.

FBI Now Hunting For Ex-CU CEO Turned Fugitive

NCUA said it is amending its exam process to better protect against fraud-particularly at small credit unions.

Based on one securities firm's close analysis of the "legacy assets" of the five failed corporates, assessments for the Corporate CU Stabilization Fund should be ending soon.

WASHINGTON-CUNA economist Bill Hampel told Congress last week that credit unions and other community lenders should have a major role in creating and overseeing a proposed federally backed secondary mortgage market agency in the case of a wind down of Fannie Mae and Freddie Mac.

The National Cooperative Business Association is launching a national "Honor a HERO" contest in which credit unions and co-ops can share stories (in 200 words or less) about how a member of their staff has been a hero. The contest is being co-sponsored by CU Strategic Planning, Tacoma, Wash. Credit Union Journal is participating as media sponsor.

Credit unions and banks in the U.S. report they are feeling even greater regulatory and risk management pressures than they were at the beginning of the year.

New analysis by Co-Ops for Change has found that U.S. Central FCU's losses are likely to be far less than projected, and that the NCUA guaranteed notes balance is currently over-reserved by $10 billion.

DNCUA said it will realign its regional supervision effective Jan. 1, 2014.

Credit Plus Offering e-Signature

Credit unions continued to chop loan reserves and prune their expenses in the first half of the year by slashing cost of funds-the dividends they pay to members-to maintain the record net income of the past two years.

Mid-Atlantic Corporate FCU, Middletown, Penn., announced the election results of its board of directors. Returning to the board to serve new three-year terms are: Alison DeTuncq, CEO of University of Virginia Community CU; Brian Vittek, CEO of Destinations CU; and David Whitehead, CEO of Merck Sharp & Dohme FCU.

Credit unions must now pay attention to an increasingly volatile long end of the yield curve, as well as to the stability of core deposits.

One analyst predicts a slow and gradual rise in interest rates in the remainder of the year, accompanied by a marked increase in mortgage lending.

NCUA said it is building a new risk-based capital framework tailored to protect the industry from losses.

CUNA Mutual Sets Webinars

Some notes from around the world, or at least a world as large as the inside of the Ottawa Convention Center, where WOCCU recently held its World CU Conference.

Edward Speed, a recently retired CEO of a $2 billion-asset credit union, explains why rigid operations kill front-line performance.

Ron Schmidt, CPA, with CBS Certified Public Accountants LLC, explains why an audit is about more than just the numbers.

SPRINGFIELD, Ill. – Credit Union 1 is offering 0% loans to state lawmakers who won’t be getting their $5,700 monthly paychecks starting next week as they grapple with the Governor over another budget crisis.