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Market Intelligence:
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  • CUJ content
    CUMIS Wins $480,000 Default Judgment Against Defrocked Priest

    ALBANY, N.Y. – A federal court yesterday issued a $483,000 default judgment in favor of CUMIS Insurance Society against a defrocked church pastor for stealing from the credit union where he worked.

    April 23
  • CUJ content
    Phone Outage Cuts Services At CEFCU

    PEORIA, Ill. – Phone service was restored at CEFCU’s headquarters yesterday following a widespread AT&T outage on Monday that caused disruptions to the credit union’s online, mobile banking, Money Center 24 ATMs and Fast Track Teller machine services.

    April 23
  • Compliance
    Healthcare Hot Topic At HR/TD Council Conference

    ANAHEIM, Calif. – Credit unions are searching for answers on how to deal with the many requirements related to the Affordable Care Act, based on the full house that showed up for a breakout session Tuesday afternoon at the CUNA HR/TD Council Conference here.

    April 23
  • CUJ content
    CEO To Stand Trial Second Time For Giving Herself Unauthorized Raises

    NORRISTOWN, Penn. – A state court refused to dismiss fraud charges against the former CEO of United Food and Commercial Workers Local 1776 FCU, meaning the one-time credit union executive will have to stand trial a second time for fraud for allegedly giving herself unauthorized pay raises.

    April 23
  • CUJ content
    Third Robber Guilty In $276,000 CU Heist

    URBANA, Ill. – The third of three suspects in the June 2009 armed robbery at Shapiro Developmental Center Employees CU in Kankakee was convicted today in the $276,010 hold-up, one of the biggest credit union robberies in recent years.

    April 23
  • CUJ content
    South Dakota Supreme Court Petitioned On CUNA Mutual Suit

    PIERRE, S.D. –Members of Black Hills FCU have petitioned the South Dakota Supreme Court to declare a lawsuit against the credit union and CUNA Mutual Group’s CUMIS Insurance Society unit over credit life disability terms a class action.

    April 23
  • Corporate credit unions
    Missouri Corporate’s Dennis DeGroodt Retires

    ST. LOUIS – Missouri Corporate CU announced this morning Dennis DeGroodt will retire as CEO of the $1.2 billion corporate credit union July 31 and will be succeeded by Kathleen “Kitty” Gray, its chief financial officer.

    April 23
  • Compliance
    Republican House Leader Snubs CFPB Director, Won’t Let Him Testify

    WASHINGTON – In an unprecedented rebuff, the Republican chairman of the House Financial Services Committee refused to allow Consumer Financial Protection Bureau Director Richard Cordray to testify before the committee because he said a recent court ruling invalidates Cordray’s year-old appointment to the post.

    April 23
  • CUJ content
    Burglary Suspect Captured Inside SECU ATM

    GOLDSBORO, N.C. – A man believed responsible for at least three ATM break-ins over the weekend was caught inside an ATM at State Employees’ CU early Monday morning as he was trying to break open the cash safe.

    April 22
  • Lending
    Connecticut’s American Eagle FCU Exits Commercial Lending Over MBL Cap

    EAST HARTFORD, Conn. – American Eagle FCU, the state’s second biggest credit union, said it is now longer offering member business loans because of inaction by Congress in increasing the MBL limit.

    April 22
  • Corporate credit unions
    S&P Seeks Dismissal Of WesCorp, Eastern Financial CDOs Suit

    LOS ANGELES – Standard & Poor’s called on a federal court here yesterday to dismiss a $5 billion civil suit brought by the U.S. Justice Department claiming the Wall Street rating agency ignored its own standards rating risky investments sold to, among others, WesCorp FCU and Eastern Financial Florida CU, two of the biggest credit union failures ever.

    April 22
  • Growth strategies
    Northwest Resource FCU Blazes New Trail With Rebranding

    PORTLAND, Ore. – Northwest Resource FCU is seeking to break form the pack of nine Oregon and Washington credit unions with “Northwest” in their name with a new name and brand at Trailhead CU.

    April 22
  • CUJ content
    McGraw-Hill FCU Inks With Public Relations Firm

    EAST WINDSOR, N.J. – McGraw-Hill FCU has signed with Crenshaw Communications as its public relations agency after a competitive review.

    April 22
  • CUJ content
    Michigan’s Portland FCU Promotes For New CEO

    PORTLAND, Mich. -- Portland FCU has selected Harvey Hoskins, its executive vice president, as president and CEO of the $240 million credit union.

    April 22
  • Technology
    Boulder Valley CU Rolls Out Tyfone’s M-Banking

    BOULDER, Colo. – Boulder Valley CU has launched Tyfone’s mobile financial services that includes mobile remote deposit capture,. P2P payments, bill pay, and mobile banking enrollment.

    April 22
  • Branch network
    Texas Dow Employees CU Expands Marathon Oil Tower Branch

    HOUSTON, Texas — Texas Dow Employees CU quadrupled the size of its branch inside the Marathon Oil Tower, part of a major renovation to the landmark building.

    April 22
  • CUJ content
    Coast Central CU Awards $50,000 In Community Grants

    EUREKA, Calif. – Coast Central CU has awarded $50,000 to five local non-profits as part of its semi-annual Community Investment Grants.

    April 22
  • CUJ content
    NCUA Approves HarborOne CU Bank Conversion

    BROCKTON, Mass. – NCUA announced today it has certified last month’s member vote at HarborOne CU to convert the $2 billion to a mutual savings bank, the biggest credit union conversion ever.

    April 22
  • Cards
    EMV-Enabled CU Cards Work In Europe

    RANCHO CUCAMONGA, Calif. -- EMV-enabled Visa debit cards functioned successfully in at least six countries for members and staff of Bank-Fund Staff FCU, with online transaction processing performed by CO-OP Financial Services.

    April 22
  • Payments
    Russell To Leave TMG After 23 Years

    DES MOINES, Iowa–After 23 years with The Members Group, Jeff Russell is moving on, taking over as CEO of insurance company Delta Dental of Iowa here on May 3.Russell, CEO of TMG Financial Services and senior advisor for The Members Group, will serve his last day at TMG April 26. Patrick Jury, CEO of the Iowa Credit Union League, will serve as acting CEO of TMG Financial Services while an executive search begins for the new CEO of TMG-FS.

    April 22
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23RD ANNUAL THE MOST POWERFUL WOMEN IN BANKING

Meet The Most Powerful Women in Banking 2025, our annual ranking of the executives at the pinnacle of the industry.

ABM1025_Cover.jpg

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