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Market Intelligence:
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  • Technology
    Minnesota’s Postal CU Launches FundsXpress Online Banking

    ST. PAUL, Minn. – Postal CU rolled out its new online banking and bill pay service, designed to increase functionality and add much-asked for features such as Notify Me alerts, a simplified yet secure login process, automatic passcode reset, person-to-person, secure messaging and bill presentment.

    January 31
  • CUJ content
    Seattle Metropolitan CU Hires Veteran CU Exec As CEO

    SEATTLE – Seattle Metropolitan CU has named Richard Romero, the chief operations officer at Los Angeles Firemen’s CU, as president and CEO of the $570-million credit union.

    January 31
  • CUJ content
    Coastal FCU Signs Investment Service Deal With CUSO Financial

    RALEIGH, N.C. – Coastal FCU on Tuesday said it has signed with CUSO Financial Services, LP, to provide investment services to the $2-million credit union’s members.

    January 31
  • CUJ content
    Millions From St. Paul Croatian FCU Fraud Feared Vanished

    CLEVELAND – Balkans underworld figure Koljo Nikolovski has agreed to forfeit $850,000 in an Albanian bank account as part of his plea agreement on fraud and money laundering charges in the 2010 collapse of St. Paul Croatian FCU – but authorities say they still cannot locate millions more Nikolovski and his accomplices are believed to have wired to the Balkans.

    January 31
  • Corporate credit unions
    NCUA Questions Judge’s Rebuff In Wall Street Suit

    ALEXANDRIA, Va. – NCUA said this morning it disagrees with yesterday’s tentative ruling by a federal judge dismissing its suit against RBS Securities in the failure of WesCorp FCU, a ruling that could jeopardize similar suits against JP Morgan Chase, Goldman Sachs and Wells Fargo for the sale of risky mortgage backed securities to five failed corporate credit unions.

    January 31
  • CUJ content
    International Crime Figure Pleads Guilty In Collapse Of Big Cleveland CU

    CLEVELAND – Koljo Nikolovski, a Balkan crime figure known in Macedonia as “Koljo the American” for his dual citizenship, pleaded guilty yesterday to bribery, fraud and money laundering charges in the massive loan scheme that sunk St. Paul Croatian FCU in 2010.

    January 31
  • CUJ content
    MACU Recognized As One Of Utah’s Best Places to Work

    SALT LAKE CITY – Mountain America Credit Union said it was recognized as one of Utah’s Best Places to Work by the State of Utah Department of Workforce Services Office of Work & Family Life.

    January 30
  • Growth strategies
    CO-OP Names Finalists For $10,000 THINK Prize

    RANCHO CUCAMONGA, Calif. – CO-OP Financial Services has named the three finalists for the second annual CO-OP THINK Prize, which includes a $10,000 grand prize presented by MasterCard.

    January 30
  • CUJ content
    DuPont Goodrich FCU Give $93,000 To Non-Profits

    NEDERLAND, Texas – DuPont Goodrich FCU donated $93,000 to several non-profit organizations as part of its annual Dugood by Giving Campaign.

    January 30
  • CUJ content
    ACI Worldwide Extends Tender Offer For S1

    NEW YORK – ACI Worldwide said it has extended its exchange offer for the shares of S1 Corp. until Feb. 10 as the U.S. Department of Justice continues to review the antitrust implications of the deal.

    January 30
  • CUJ content
    NCR Buys Stake In uGenius Technology

    DECATUR, Ga. – ATM maker NCR Corp. said it has acquired a minority stake in uGenius Technology, a maker of video tellers for credit unions and banks.

    January 30
  • Performance reports
    Dover-Phila CU Pays Members $1.6-Million Bonus

    DOVER, Ohio – The more than 35,000 members of Dover-Phila CU received a year-end bonus dividend for the 17th consecutive year, this year totaling $1.6 million.

    January 30
  • Performance reports
    Dow Chemical Employees’ CU Gives Members $7.3-Million Payout

    MIDLAND, Mich. – Dow Chemical Employees’ CU paid its members a $7.3-million bonus, one of the biggest credit union payouts of the year.

    January 30
  • Branch network
    New York’s CapCom FCU Eyes New Home

    COLONIE, N.Y. – CapCom FCU has filed an application with town officials to build a new four-story headquarters.

    January 30
  • Growth strategies
    Chicago Labor CU Adds Big Union

    CHICAGO – AFL CIO Employees FCU last week was approved by NCUA to add the Service Employees International Union, Local 1, to its field of membership.

    January 30
  • Growth strategies
    Scott CU Expands Into Missouri

    COLLINSVILLE, Ill. – Scott CU, a former defense credit union that now serves 17 southwest Illinois counties, was approved by state regulators in Missouri to serve almost 1 million residents in adjacent St. Louis County, Mo.

    January 30
  • Performance reports
    North Island CU Completes Financial Turnaround

    SAN DIEGO – North Island CU, which teetered on the brink just two years ago after $103 million in losses for 2008 and 2009, reported a strong $17.8 million net for 2011, its second straight year in the black.

    January 30
  • Performance reports
    Texans CU Plunges Deep Into Red Ink Amid Huge MBL Charges

    RICHARDSON, Texas – Texans CU, a one-time $2-billion credit union being run under conservatorship by NCUA, followed up 2010’s $39.4 million loss with a loss of $88.7 million for 2011, one of the biggest ever for a credit union, NCUA reported yesterday.

    January 30
  • Corporate credit unions
    NCUA’s Wall Street Suits Hang By A Thread

    LOS ANGELES – A federal judge on Monday indicated he plans to dismiss NCUA’s suit against RBS Securities for the sale of failed mortgage backed securities it sold to WesCorp FCU, a ruling that potentially jeopardizes all of NCUA’s claims against Wall Street banks for the failure of the five corporate credit unions.

    January 30
  • CUJ content
    Raymond James Wins Huge First Tech FCU Deal

    PALO ALTO, Calif. – Addison Avenue Investment Services, the investment CUSO for First Tech FCU, announced today it has transferred its vast broker-dealer services contract to Raymond James.

    January 30
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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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