• COLORADO SPRINGS, Colo. – Elevations CU has signed with Jack Henry & Associates to install the company’s Symitar Episys core processing system.

    February 16
  • HOLLYWOOD, Calif. – Motion Picture FCU, a one-time $6 million credit union that has struggled in recent years, was cleared by state regulators to merge into Musicians Interguild CU, an $80 million Hollywood credit union.

    February 16
  • NEW YORK – Municipal CU will launch a series of TV commercials Monday featuring John Franco, the longtime relief pitcher for the New York Mets, as the credit union’s new spokesman.

    February 16
  • WASHINGTON – NCUA on Wednesday called on the Federal Reserve to extend the Dodd-Frank Act’s protections for smaller institutions to protect credit unions from the network exclusivity and routing restrictions included in the bill’s debit interchange provisions.

    February 16
  • ALBANY, N.Y. – A task force of New York credit unions, who helped create Members United Corporate FCU, moved today to revive the failed corporate credit union, currently in the semi-liquidated state under NCUA conservatorship. A report issued this afternoon by the New York CU League’s Corporate CU Services Task Force calls for the reconstitution and recapitalization of the one-time $13 billion corporate, which was seized by NCUA Sept. 24, along with two other corporate failures, Southwest Corporate FCU and Constitution Corporate FCU. Members United, which was subsequently combined with Constitution Corproate, is currently being operated by NCUA as a so-called bridge corporate, with the vast majority of its assets–its investment portfolio–being liquidated as part of NCUA corporate bailout. The New York task force of 27 credit union CEOs said the state’s credit union executives have acknowledged the losses at Members United, which erased some $725 million of credit union capital–“and are prepared to move forward.” The task force also noted that a number of the state’s largest credit unions have fled the corporate system and won’t be coming back. The task force also recommends that a reconstituted Members United pursue mergers with other corporates under a consolidation of the corporate system. New York credit unions helped create Members United with the 2006 merger of their own corporate, Empire Corporate FCU, into Mid-States Corporate FCU of Illinois, and the Empire Corporate CEO Joseph Herbst eventually ran Members United till its takeover by NCUA.ALBANY, N.Y. – A task force of New York credit unions, who helped create Members United Corporate FCU, moved today to revive the failed corporate credit union, currently in the semi-liquidated state under NCUA conservatorship.

    February 16
  • BEL AIR, Md. – Har CO FCU has notified members and NCUA it plans to convert to a mutual savings bank, the first conversion in more than two years. The $190 million credit union, chartered in 1955 to serve school employees in the Baltimore suburbs of Harford County, told its members it hopes the conversion will increase membership and economies of scale to better meet the current and future needs of our members. Existing and future branch locations would, as bank branches, be permitted to serve and attract almost twice as many citizens as they can now as credit union branches, the credit union said in a notice to members. The Board has considered that a conversion to a federal mutual savings bank will end Harco’s tax exemption, said the notice. Based upon our analysis and meetings with consultants, the Board of Directors believes that the tax impact should be more than offset by the enhanced earnings capacity under the federal mutual savings bank charter and the ability to more effectively serve Har-co’s current and future members. The credit union has kept in the black the last few years–but just barely-in the face of the nationwide recession and the growing NCUA charges, reporting a mere $27,000 net for 2008, and just $4,700 in net income for 2009, before a $300,538 net for 2010. Officials at the credit union were not immediately available for comment.

    February 16
  • PROVIDENCE, R.I. – When law enforcement came calling at the Providence Marriott hotel, looking for an alleged bank robber, he was not in his room, but out pulling another heist at Pawtucket CU, according to authorities.

    February 15
  • ABILENE, Texas – Abilene FCU has donated $32,060 to Big Brothers Big Sisters which was raised through the credit union’s annual Skip-A-Loan Payment program.

    February 15
  • MINNEAPOLIS – Check printer Deluxe Corp. announced this week it will close its call center in Phoenix and lay off 175 workers.

    February 15
  • RICHLAND, Wash. – Gesa CU plans to award $2,000 scholarships to 10 graduating high school seniors entering college in the fall.

    February 15
  • LOS ANGELES – Financial Partners CU is the latest big credit union to sign with Bluepoint Solutions to implement the company’s QwikDeposit ToGo as its mobile remote deposit capture platform.

    February 15
  • TEMPE, Ariz. – TruWest CU said yesterday it has signed with PSCU Financial Services to process its 22,000 credit and 48,000 debit card accounts.

    February 15
  • OAKLAND, Calif. – Self-Help FCU said yesterday its People’s FCU unit has accepted a $250,000 non-member deposit from Gateway Bank in San Francisco.

    February 15
  • WASHINGTON – CUNA President Bill Cheney is considering moving chief lobbyist John Magill into the $450,000-a-year job of chief of staff upon the retirement of Richard McBride at next month’s GAC, according to several sources.

    February 15
  • PENSACOLA, Fla. – Navy FCU is building a 225,000-square-foot, $80 million building, its fourth at the credit union’s giant call center here.

    February 15
  • DURHAM, N.C. – Latino Community CU is offering teenagers $1,000 prizes for their best savings idea, in the latest credit union version of the savings contest.

    February 15
  • LAS VEGAS – A glance at fraud statistics would seem to yield an obvious answer: the United States needs to catch up with the rest of the world and upgrade old-school magnetic stripe cards to modern chip and PIN models.

    February 15
  • LEWISTON, Maine – As many as 1,000 credit union members around Maine are believed to have had their card accounts compromised and are now reporting unauthorized transactions on their accounts.

    February 15
  • WASHINGTON – Revenues earned by credit unions from debit card interchange is far more than was previously thought – an estimated $2.6 billion for 2010 – according to CUNA, which is preparing testimony for tomorrow’s Congressional hearing on interchange legislation.

    February 15
  • TUKWILA, Wash. – BECU and the University of Washington produced a YouTube video featuring world-famous saxophone player Kenny G, Bill Gates, Sr., TV star Richard Karn of the hit sitcom Home Improvement, and other famous UW Alumni singing the university’s fight song, “Bow Down to Washington,” to introduce the new BECU/UW MasterCard Gold Debit Card yesterday.

    February 15