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Market Intelligence:
AI
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  • Technology
    Lafayette Schools’ FCU Adds M-Banking From MShift

    NEW IBERIA, La. – Lafayette Schools’ FCU yesterday said it will offer its members mobile banking services, including a mobile browser and downloadable shortcuts for both the iPhone and the Android, through a partnership with Card Services For CUs and MShift.

    February 1
  • CUJ content
    Former CEO Wins Retrial In Fraud Case

    NORRISTOWN, Penn. – The former CEO of United Food and Commercial Workers Local 1776 FCU was awarded a new trial by a state court, which determined she was not fully aware “of the nature of charges against her” in December 2010 when she decided to represent herself at trial for embezzlement for paying herself unauthorized raises.

    February 1
  • Branch network
    American Heritage FCU Replaces In-Store Bank

    PHILADELPHIA – American Heritage FCU will replace Citizens Bank in a local ShopRite store, after the bank decided to close the in-store branch.

    February 1
  • Corporate credit unions
    West Virginia Corporate Members Approve VolCorp Merger

    PARKERSBURG, W.Va. – Members of West Virginia Corporate CU overwhelmingly approved its combination with Volunteer Corporate CU, the final approval needed for the merger creating a $1.4-billion corporate serving 335 members.

    February 1
  • Performance reports
    Arizona FCU Returns From Life Support

    PHOENIX – Among all of the emerging turnaround stories for one-time troubled credit unions, none may be more impressive than that of Arizona FCU – a one-time $1.9-billion credit union which reported a $45 million net for 2011 after teetering on the brink the past three years.

    February 1
  • CUJ content
    TruMark Financial CU Pays To ‘Kiss A Pig’

    TREVOSE, Penn. – TruMark Financial CU awarded $5,500 grants to each of three schools whose teachers agreed to kiss a pig in support of financial literacy at the credit union’s First Annual Kiss-A-Pig Financial Literacy Fundraiser last fall.

    February 1
  • CUJ content
    Car Dealer Bilked Navy FCU Out Of $1.5 Million

    NORFOLK, Va. – A former car dealer on Wednesday pleaded guilty to charges of bilking Navy FCU out of $1.5 million in a used car scam.

    February 1
  • Payments
    Coopera Debuts Prepaid Cards For Hispanic Members

    DES MOINES, Iowa – Coopera, the consulting arm of the Iowa CU League, said eight credit unions have signed on to begin offering the Coopera Card, a reloadable Visa prepaid card built specifically for the Hispanic community.

    February 1
  • Payments
    PenFed Pays Members To Eat Out More

    ALEXANDRIA, Va. – Pentagon FCU said beginning Feb. 1, all members who use the PenFed Premium Travel Rewards American Express Card will earn three points per $1 spent on all their dining purchases, tripling the current rewards.

    February 1
  • Branch network
    San Antonio’s Generations FCU Opens Five In-Store Branches

    SAN ANTONIO – Generations FCU has agreed to open five branches in select H.E. Butt Grocery Co. (H-E-B) stores throughout San Antonio and Bexar County.

    February 1
  • CUJ content
    Debt Service From Huge Buyout Keeps First Data In Red

    DENVER – First Data Corp. reported debt service related to its huge 2007 takeover continued to create losses at the transaction processing giant, even as growth in operating income helped trim the losses.

    February 1
  • CUJ content
    Congress Criticizes NCUA For “Retaliating” In North Carolina CAMEL Case

    WASHINGTON – A North Carolina Congressman took NCUA to task this afternoon for penalizing all state chartered credit unions in his home state because one, State Employees’ CU, violated NCUA rules by publicizing its CAMEL code.

    February 1
  • CUJ content
    NCUA Scores Congress Bid At Examination Reform

    ALEXANDRIA, Va. – A top NCUA official told Congress this afternoon that proposed legislation to establish a new appeals process for credit union and bank examinations could prove unnecessarily costly and slow down the resolution of troubled credit unions, in some cases long enough to preclude NCUA from saving them.

    February 1
  • CUJ content
    Real Estate Developer Wins $75 Million Judgment Against Delta Community CU

    MARIETTA Ga. – A state court yesterday returned a $75.4 million judgment against Delta Community CU in favor of residential developer David Pearson in a dispute over member business loans the credit union provided the local home builder.

    February 1
  • CUJ content
    Jack Henry Reports Strong Earnings

    MONETT, Mo. – Jack Henry & Associates reported a 7% rise in net income for its fiscal second quarter yesterday, fueled by a 5% increase in revenues.

    January 31
  • Branch network
    Michigan’s Honor CU Opens 16th Student-Run Branch

    SAINT JOSEPH, Mich. – Honor CU said it opened a Chieftain Student CU branch inside the Dowagiac Middle School yesterday, which will be run by eighth graders.

    January 31
  • Branch network
    City Buys CU Branch To Facilitate Indoor SportsPlex

    WATERLOO, Iowa – The City Council voted to purchase an Iowa Community CU branch for $814,000, to clear the way for construction of a planned $23-million indoor Cedar Valley SportsPlex.

    January 31
  • CUJ content
    First Financial FCU Offers Members Chance To Win $1,000 To Pay Bills

    WALL, N.J. – First Financial FCU is teaming with local radio station 94.3 The Point to give families the opportunity to win $1,000 each month to help pay their bills.

    January 31
  • CUJ content
    Greater Pittsburgh Police FCU Names New Chief

    PITTSBURGH – Greater Pittsburgh Police FCU announced that Sandy Lazzara retired yesterday as president and CEO of the $56-million credit union, ending a 35-year career in the credit union movement.

    January 31
  • CUJ content
    Florida’s Coastline FCU Hires Banker As CEO

    JACKSONVILLE, Fla. – Coastline FCU yesterday said it hired John Clifford, president of Bank of Fall River, Mass., as president and CEO of the $125-million credit union.

    January 31
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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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