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Market Intelligence:
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  • Lending
    CUNA Mutual To Sell Mortgage Insurer

    MADISON, Wis. – CUNA Mutual Group announced this morning that it and its partner PMI Mortgage Insurance have agreed to sell their joint venture, CMG Mortgage Insurance Co., the biggest provider of private mortgage insurance to credit unions, to Bermuda-based Arch Capital Group Ltd. and its U.S. subsidiary, Arch U.S. MI, for $300 million.

    February 8
  • CUJ content
    Pension, Acquisition Costs Sink NCR Into The Red

    DULUTH, Ga. – ATM maker NCR Corp. reported a $22 million loss for its fourth quarter due to costs related to pension and acquisition expenses.

    February 7
  • CUJ content
    Fourth Quarter Earnings Rise At Cardtronics

    HOUSTON – Cardtronics, the world’s biggest deployer of ATMs, reported an increase in fourth quarter net income to $11.2 million, from $8.2 million for the same period last year, fueled by a 14% rise in revenue.

    February 7
  • Technology
    Cornerstone FCU Adds MShift’s Mobile Banking

    CARLISLE, Penn. – Cornerstone FCU will now offer members mobile banking services, including mobile browser banking and downloadable apps for iPhone, and Android, through a partnership with CSCU and MShift.

    February 7
  • Technology
    Community First CU Of Florida Renews With AXIS Data

    JACKSONVILLE, Fla. – Community First CU Of Florida has renewed its agreement with AXIS Data Solutions to provide monthly statement processing for its more than 104,000 members.

    February 7
  • Lending
    Mortgage Rates Dip

    WASHINGTON – Home mortgage rates fell back again toward record lows this week, after rising the past few weeks, according to Freddie Mac.

    February 7
  • Growth strategies
    Orlando CUs Join Fledgling ‘Bank On’ Program

    ORLANDO, Fla. – Two local credit unions, Central Florida Educators CU and Orlando FCU, have joined eight banks and community organizations to offer financial lifeline services to the area’s unbanked in a new Bank On Greater Orlando program.

    February 7
  • Growth strategies
    Automakers CU Branches Out

    LANSING, Mich. – Lansing Automakers FCU has been approved to convert to a state charter and expand its field of membership to eight surrounding counties, which contain approximately 800,000 people.

    February 7
  • CUJ content
    Proposal Would Allow Washington CUs To Pay Volunteer Directors

    OLYMPIA, Wash. – State lawmakers were scheduled review a bill Thursday that would, among other things, allow state chartered credit unions to pay volunteer directors and supervisory committee members.

    February 7
  • CUJ content
    Court Stays Big CU Suit Over CDOs

    MIAMI – A federal court this week agreed to temporarily halt a suit against Standard & Poor’s Ratings Service, Moody’s Investor Service and a handful of Wall Street banks over the sale of $150 million of risky mortgage-backed securities known as CDOs that caused the 2009 collapse of Eastern Financial Florida CU, the biggest non-corporate credit union failure ever.

    February 7
  • Corporate credit unions
    Corporate CU Chief Fights For Back Pay After NCUA Ouster

    WASHINGTON – The former CEO of Constitution Corporate FCU asked a federal appeals court yesterday to overturn the NCUA Board’s ruling denying him some $250,000 in back pay and benefits after the federal regulator took over his failed corporate in September 2010, along with two others.

    February 7
  • Performance reports
    Las Vegas’s One Nevada CU Ends Losing Streak

    LAS VEGAS – One Nevada CU, the state’s biggest credit union, reported a $1.4 million net for the fourth quarter and a $2.5 million net for the year—shedding red ink for the first time since 2008.

    February 7
  • Technology
    Jack Henry Launches Remote Deposit Capture For Its goDough

    MONETT, Mo. – Jack Henry & Associates announced this morning that the iPhone and Android versions of its goDough mobile banking are now capable of providing remote deposit capture.

    February 7
  • CUJ content
    Robber’s Boasts Prove His Undoing

    LONGVIEW, Wash. – A man who managed to evade police twice after robbing the same Red Canoe CU branch in December and January proved his own worst enemy when his bragging led police to him.

    February 6
  • CUJ content
    LPL Financial Reports Lower Earnings

    BOSTON – LPL Financial Holdings, which provides broker-dealer services for hundreds of credit unions, yesterday said fourth quarter net income declined 7% to $36.9 million.

    February 6
  • CUJ content
    Fourth Quarter Earnings Plunge At Equifax On Charge

    ATLANTA – Credit bureau Equifax Inc. reported a 38% decline in fourth quarter earnings yesterday, to $46.3 million, due to a one-time charge.

    February 6
  • CUJ content
    Profits Soar At Visa

    FOSTER CITY, Calif. – Card giant Visa Inc. reported a 26% rise in fiscal first quarter earnings yesterday to $1.3 billion, as payment volumes continued their strong growth.

    February 6
  • Technology
    San Francisco Police CU Chooses Vertifi’s DeposZip

    SAN FRANCISCO – San Francisco Police CU has selected Vertifi Software LLC’s DeposZip Mobile to provide remote deposit capture service to its members.

    February 6
  • CUJ content
    Nassau Financial FCU Implements Jack Henry’s Episys

    WESTBURY, N.Y. – Nassau Financial FCU has installed Jack Henry & Associates’ Episys core processing system.

    February 6
  • CUJ content
    Robber Makes Getaway In Taxi

    FAIRBANKS, Alaska – Police say a man who robbed MAC FCU here yesterday used a taxi as a getaway car after making off with about $500.

    February 6
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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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