Solarity Chooses Mortgage Cadence

ALEXANDRIA, Va.-NCUA issued a ruling last week that government-guaranteed bonds issued by the U.S. Overseas Private Investment Corp., which help finance private-sector projects overseas, are permissible investments for FCUs. OPIC is an agency of the United States. Accordingly, obligations fully guaranteed by OPIC are permissible investments for FCUs, wrote General Counsel Michael McKenna in his legal opinion. The OPIC bonds, known as Certificates of Participation, carry a government guarantee.

Overdraft revenue fell, on an annual basis, for banks, thrifts and credit unions, by almost one billion dollars in Q1 2013, from the end of 2012, according to a new overdraft study by Moebs $ervices.

Melissa Gardner, community outreach coordinator at Andrews FCU, was appointed to the Maryland Financial Education and Capability Commission.

In the wake of the string of recent, devastating tornadoes in this region, Communication FCU reported it is seeing a surge of member interest in its storm shelter loan program.

Consumers have high expectations for the future of mobile payments, but many aren't exactly sure what their own involvement will be.

Catalyst Corp Hosts Conference

'Good' Theme For International CU Day

John Bogush, EVP with Alexander Proudfoot, explains how an emphasis on human cpital can pay off for credit unions.

There was a striking contrast about credit unions on full display last week that might be best summed up as "There are a lot more than one way to grow."

A selection of images featuring credit unions’ efforts in their communities.

SAN ANSELMO, Calif. – Total bank deposits at FDIC insured institutions in Q1 were virtually unchanged at $10.8 trillion, according to analysis from Market Rates Insight.

NORTH CANTON, Ohio – Diebold named a former executive for Siemens AG and Hewlett-Packard as its CEO last week as it tries to revive its core ATM business.

SACRAMENTO, Calif. – A 12-foot-tall spelling of California will greet visitors to the California State Fair next month, courtesy of The Golden 1 CU.

WETHERSFIELD, Conn. – The $200-million Dutch Point CU said it is merging into it the $31-million Capitol Region FCU.

CLEVELAND – An international crime figure who received almost $6 million in phony loans from St. Paul Croatian FCU said he was duped into accepting a plea deal that resulted in an 18-year sentence behind bars – twice the maximum nine-year term he had agreed to.

BALTIMORE – NCUA continues to express concerns over the declining viability of small credit unions, with NCUA Chairman Debbie Matz saying more than one-third of all credit unions with less than $50 million in assets are unprofitable.

NEW YORK – New York City won an appeal of its HAIL Act in the New York State Court of Appeals, turning back a challenge from credit unions that lend to taxi owners and the yellow taxicab industry and upholding state law for creation of a street hail livery service in Brooklyn, Queens, the Bronx, Staten Island, and northern Manhattan, as well as for the city’s sale of 2,000 additional medallions for wheelchair-accessible yellow taxicabs.

Scenes from CU Journal's Grow Show:

Credit unions can now pull back the curtain on the so-called "legacy assets" and gain a better understanding of the performance of the securities that were once held by the five failed corporate credit unions.