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  • Fraud
    Manager Convicted Of $817,000 CU Theft

    TOPEKA, Kan. – The former manager of Enterprise CU pled guilty yesterday to embezzling $817,000 from the Enterprise-based credit union.

    November 13
  • Technology
    Red Canoe CU Implements FMSI’s Teller Management System

    LONGVIEW, Wash. – Red Canoe CU has installed Financial Management Solutions, Inc.’s Teller Management System to streamline branch transaction analysis at its seven branch locations better optimizing the branch workforce.

    November 13
  • Fraud
    NCUA Due Big Payday From St. Paul Croatian FCU Plea Deal

    CLEVELAND – NCUA, which estimates losses of as much as $170 million on the collapse of St. Paul Croatian FCU, is in line to receive payments due on several downtown Cleveland properties totaling $16.7 million under a plea deal with a local financier convicted of swindling the one-time $240 million credit union.

    November 13
  • Cards
    Merchants Plan Swipe Fee Appeal

    NEW YORK – The National Association of Convenience Stores, the Association for Convenience & Fuel Retailing, and other plaintiffs in the 2005 antitrust suit against Visa and MasterCard are preparing a legal challenge of Friday's ruling granting preliminary approval of a $7.2-billion settlement in the case.

    November 13
  • Growth strategies
    Wright-Patt CU Graduates To ‘Savings Race 5-College Bound’

    FAIRBORN, Ohio – Wright-Patt CU has launched the fifth year of its Savings Race, this time with a grand prize of $10,000 going to a college-bound student to help them pay tuition costs.

    November 13
  • Growth strategies
    Michigan League Adds New Component To $100,000 Savings Sweepstakes

    LIVONIA, Mich. -- The Michigan CU League is expanding its $100,000 Save to Win lottery this year by adding more $10,000 prizes and by offering the SaveUp Rewards program as an adjunct.

    November 13
  • Performance reports
    Nebraska Bank To Buy Tiny CU

    YORK, Neb. -- First York Bancorp has agreed to acquire tiny Glenvil Cooperative CU, in a rare acquisition of a credit union by a bank.

    November 13
  • CUJ content
    Online Resources Corp. To Appeal $25 Million Court Verdict

    CHANTILLY, Va. – Online Resources Corp. said this morning it plans to appeal Friday’s federal court verdict ordering it to pay $25 million to the former head of Internet Transactions Solutions, a Columbus, Ohio, provider of e-billing services it acquired in August 2007.

    November 13
  • Cards
    CUs Offer Visa’s V.me Digital Wallet For Holiday Shopping

    FOSTER CITY, Calif. – Visa announced this morning that 50 financial institutions—more than half of them credit unions--have launched Visa’s V.me new digital wallet service, which frees online shoppers from having to repeatedly enter account numbers, bill-to and ship-to information at checkout, in time for holiday shopping.

    November 13
  • Technology
    Virtual Desktop Company Going Out Of Business

    REDWOOD CITY, Calif. -- Pano Logic, the once-promising company that was at the forefront of the desktop virtualization movement, has shut down, just weeks after the company announced that Redstone FCU was going to replace 75% of its personal computers with Pano Logic's virtual desktops, and save 60% on computing costs.

    November 12
  • Performance reports
    Check Printer Harland Clarke Reports Third Quarter Loss

    SAN ANTONIO – Harland Clarke Holdings, the nation’s biggest check printers, reported a third losses of $19 million, compared to a profit of $46.6 million for the third quarter last year, because of costs associated with the this year’s going-private merger.

    November 12
  • CUJ content
    Late Maine CU Volunteer Served Five Decades

    SACO, Me. – Members and employees of Saco Valley CU were mourning the death of Robert Tarbox, a volunteer director at the credit union for more than 50 years, who died Nov. 2 at 85.

    November 12
  • Branch network
    First Community CU Opens In Fargo

    JAMESTOWN, N.D. -- First Community CU, the state’s largest credit union, is opening a new branch in Fargo.

    November 12
  • Branch network
    Workers’ CU Opens In-Store Branch In Hannaford Supermarket

    FITCHBURG, Mass. – Workers’ CU has opened inside Hannaford Supermarket in Chelmsford, the credit union’s 15th branch.

    November 12
  • Technology
    North Carolina’s Summit CU Debuts Catalyst Corporate’s Mobile RDC

    GREENSBORO, N.C. -- Summit CU is the first credit union to implement with Catalyst Corporate FCU’s Mobile Capture service, powered by Bluepoint Solutions.

    November 12
  • Compliance
    NCUA Eyes CU Carve-Out From FASB Risk Disclosures

    NORWALK, Conn. – NCUA joined the banking regulators in urging the Financial Accounting Standards Board to consider a condensed version for non-public entities, like credit unions, when it issues a final rule on disclosures for interest rate and liquidity risk from financial institutions.

    November 12
  • Lending
    Self-Help FCU Buys Failed Bank Mortgages From FDIC

    DURHAM, N.C. – Self-Help FCU has teamed with a Chicago community development group to buy 1,100 mortgages mostly held by Hispanic borrowers from the FDIC that were made by the failed Second Federal Savings & Loan Association.

    November 12
  • Growth strategies
    Bankers: ‘Still No’ On MBLs Bill

    WASHINGTON – The end of the elections season and impending lame duck session of Congress have done little to lessen the bankers opposition to the member business loan bill, even as the credit union lobby tries one more time to get a “yes” vote in Congress on legislation to raise the MBL limit.

    November 12
  • Fraud
    Appeals Court Rejects Recovery Bid In Spectacular CU Failure

    NEW HAVEN, Conn. – A federal appeals court on Friday rejected a request by members of New London Security FCU to recover $4 million of uninsured deposits from NCUA they lost in the spectacular 2008 failure of the $13 million credit union, which involved the suicide of the credit union’s investment manager.

    November 12
  • CUJ content
    Robbery At CU Was A Family Affair

    KATY, Texas -- A father, son and daughter dressed up in orange construction vests and robbed a First Community CU branch here last month.

    November 11
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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.

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