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Sources suggested that credit unions need to pay close attention to lending policies and strategies due to an auto loan market that is changing — car prices are rising due to limited supply, manufacturer incentives are dropping off, and new car sales could come back strong early next year when Japanese auto production is expected to return to levels experienced before the devastating earthquake and tsunami hit that country.
June 13
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WASHINGTON-Democratic lawmakers responded to increased efforts by Republicans to block the nomination of Elizabeth Warren to head the new Consumer Financial Protection Agency and called on President Obama to move ahead with the controversial appointment.
June 13 -
ALEXANDRIA, Va.-NAFCU called on NCUA for more transparency about its fledgling consumer protection office.
June 13 -
BISMARCK, N.D.-Midwest Corporate FCU has become the first corporate credit union to voluntarily liquidate in the face of daunting new capital and other regulatory requirements by NCUA.
June 13 -
WASHINGTON-A bruising lobbying effort waged by credit unions and banks failed last week to convince Congress to delay enactment of the Durbin amendment that will result in major cuts in debit fees over the coming months.
June 13 -
GLENDALE, Calif.-"From interchange to shortchanged" is how one credit union CEO summed up the results of last week's Senate vote that defeated a proposal that would have delayed cuts in debit fees being enacted by the Federal Reserve.
June 13 -
RANCHO CUCAMONGA, Calif.-With Congress declining to delay the Durbin Amendment on interchange, financial institutions, card processors, payment systems, and merchants have a lot of work ahead to prepare for the July 21 implementation of the new debit interchange guidelines.
June 13 -
"It is very disappointing the Senate could not even approve an amendment to spend additional time to study and fix a bill that they previously approved without knowing what it meant," said John Rhea, CEO of the $1.4-billion Robins FCU.
June 13 -
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MANHATTAN BEACH, Calif.-After 12 months of due diligence, Kinecta FCU and NuVision FCU filed a formal merger application with NCUA to form a $4.7-billion CU.
June 13 -
MADISON, Wis.-Summit Credit Union has re-launched its website at www.summitcreditunion.com as a social networking channel. Based on research conducted among its target audience (women and young adults), SCU said it designed the site with a holistic approach.
June 13 -
ANN ARBOR, Mich.-Customer satisfaction with online banking increased its lead over customer satisfaction with the overall banking experience, according to the newly released U.S. 2011 ForeSee Results Online Banking Study.
June 13
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TDECU, Lake Jackson, Texas, named Timothy Belton as director of diversified services.
June 13 -
LANSING, Mich.-Michigan State University FCU has a unique approach to filling vacated or new positions that require member interaction-it draws from an internal talent pool of new hires trained to be ready to step in when a need arrives.
June 13 -
SAINT PAUL, Minn.-Electronic content management (ECM) at Affinity Plus FCU here isn't about making or saving money; instead, the past decade has delivered a sea change in operations and member service across 24 branches.
June 13 -
SAINT PAUL, Minn.-Paper remains pervasive at Affinity Plus FCU here, despite 10 years of electronic content management at the $2.3-billion CU, observed Keith Malbrue, COO.
June 13 -
