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Market Intelligence:
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  • CUJ content
    Genisys CU Inks Ad Firm Hocking Media Group

    TROY, Mich. – Genisys CU, Michigan’s fifth-largest credit union, said it has retained the Hocking Media Group to handle all its media planning and buying.

    April 7
  • Lending
    Mortgage Rates Hold Steady

    WASHINGTON – Long-term mortgage rates inched up this week, but the 30-year rate remained under 5%, according to Freddie Mac.

    April 7
  • Branch network
    Navy FCU Implements Skire Unifier Facilities Management Solution

    VIENNA, Va. – Navy FCU has installed Skire Inc.’s Unifier facilities management system for its 210-branch network.

    April 7
  • Technology
    Dakota Territory FCU Goes Live With CO-OP Mobile

    DEADWOOD, S.D. – Dakota Territory FCU is now offering CO-OP Mobile to its 3,400 members, providing them with mobile banking access, no matter what type of mobile device they own.

    April 7
  • CUJ content
    South Carolina FCU ATM Withstands Assault By Blowtorch

    SUMMERVILLE, S.C. – A suspect tried but failed to break his way into a South Carolina FCU ATM early Monday morning with a handheld blowtorch, leaving the machine intact but with some $3,000 in damage.

    April 7
  • CUJ content
    Furlough Loans Proliferate As CUs Gird For Looming Government Shutdown

    WASHINGTON – Credit unions across the country are rolling out special loans and other assistance for needy members in the event the continued federal budget stalemate causes a government shutdown tonight.

    April 7
  • CUJ content
    Cross-Dressing CU ‘Tootsie Bandit’ Changes Into Prison Jumpsuit

    SAN DIEGO – A man who donned a scoop-neck blouse, necklace, blond wig, and padded bra-disguise to steal $66,000 during last July’s armed robbery at an Inland FCU branch in El Cajon is headed to prison for almost eight years. Robert Tyndall, 56, was dubbed the Tootsie Bandit for his made-up resemblance to the lead character in the 1982 hit movie, in which an out-of-work actor played by Dustin Hoffman dresses like a dowdy woman to get an acting role. Tyndall was sentenced yesterday to 92 months behind bars for the two heists last year, including the credit union robbery. Tyndall was arrested February 3 at his San Diego apartment where police found money from the robberies, and a truck identified by witnesses as the getaway vehicle. In the credit union holdup, Tyndall assaulted the branch manager as he was opening for business, simulating he had a gun. The manager opened the vault and placed the cash–$66,000--in a bag provided by the suspect.SAN DIEGO – A man who donned a scoop-neck blouse, necklace, blond wig, and padded bra-disguise to steal $66,000 during last July’s armed robbery at an Inland FCU branch in El Cajon is headed to prison for almost eight years.

    April 7
  • CUJ content
    Meriwest CU Receives $345,000 Grant From FHLB

    SAN JOSE, Calif. – Meriwest Credit Union said the Federal Home Loan Bank of San Francisco recently awarded it with $345,000 to be used to support homeownership among low- and moderate-income families.

    April 6
  • CUJ content
    CU National’s McGrath Moved To White Collar Prison Near Family

    NEWARK, N.J. – A federal judge has agreed to transfer Michael McGrath, sentenced to 14 years behind bars for the theft of $140 million in credit union mortgages, from a Pennsylvania prison to a minimum security facility in Jessup, Ga.., so he can be closer to his wife and daughter who live in South Carolina and Florida.

    April 6
  • Branch network
    Indiana’s Troubled Independent FCU Shutters Two Branches

    ANDERSON, Ind. – Independent FCU, which reported big losses each of the past two years, announced yesterday it is closing two branches and cutting 12 part-time employees next week.

    April 6
  • Branch network
    New York’s SEFCU Replaces HSBC’s On-Campus Branch

    ALBANY, N.Y. – SEFCU said it will open a branch in the Rensselaer Union on the Rensselaer Polytechnic Institute campus in Troy, replacing an HSBC branch being closed in June.

    April 6
  • CUJ content
    Tiny Faith-Based CU Gets Big FOM

    MONTGOMERY, Ala. – NCUA has cleared Alabama West Florida Methodist FCU, which claims just 500 members, to serve 150,000 members and employees of the Alabama and west Florida Methodist churches.

    April 6
  • CUJ content
    CU Mergers: Boston’s Metro CU Goes To College

    BOSTON – NCUA has approved the merger of Metro CU with smaller University FCU, giving the $800 million credit union access to a dozen Boston-area colleges, NCUA reported yesterday.

    April 6
  • CUJ content
    Redwood CU To Award $10,000 For Amazing Savers Contest

    SANTA ROSA, Calif. – Redwood CU has chosen five teams to compete for a $10,000 prize in its Amazing Savers contest.

    April 6
  • Corporate credit unions
    NCUA Sells More Corporate Bonds

    WALL STREET – NCUA plans to hit the Street again this week with another offering of NCUA Guaranteed Notes, this time of $1.165 billion backed by residential mortgage bonds held by the five failed corporate credit unions.

    April 6
  • Lending
    NCUA Says Officer Can’t Earn Fees For Referring Denied Loans

    ALEXANDRIA, Va. – NCUA said a director of lending who has disapproved member loans may not earn a fee by referring those members to a mortgage broker because it is a conflict of interest.

    April 6
  • CUJ content
    Banks Dismissed From Heartland Breach Suit

    DALLAS – A federal court has granted motions made by Heartland Bank and KeyBank to dismiss civil suits brought against them by credit unions and banks for their involvement in the 2009 Heartland Payments Systems breach.

    April 6
  • Branch network
    Office Buyback Yields Big Gain For California CU

    GLENDALE, Calif. – California CU has agreed to buy back its headquarters – which it sold just five years ago to a now-troubled real estate investment company – for a cool $11 million profit.

    April 6
  • Payments
    Senator Says He Has Enough Votes To Delay Debit Rules

    WASHINGTON – Montana Sen. Jon Tester on Wednesday said he believes he has enough votes to approve his bill to delay proposed debit interchange rules for as long as two years and now is concentrating on the Senate’s arcane parliamentary procedures to get it passed.

    April 6
  • CUJ content
    For National CU Youth Week A CD Is Something To Sing About

    MADISON, Wis. – A musical duo calling itself the Disclosures is inviting credit union members to sing along in celebration of National Credit Union Youth Week with a new song called “Save!”.

    April 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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