-
HOUSTON – ATM operator Cardtronics on Thursday said strong growth in its core ATM business during the fourth quarter pushed revenues up 8% for the quarter, creating $8 million in net income, up from $1.5 million for the fourth quarter in 2009.
February 10 -
TAMPA, Fla. – Members Autolink, a car buying service working with eight Tampa Bay area credit unions, said it has been sold to Max Media Group.
February 10 -
DUBLIN, Ohio – BMI FCU said its president, Sharon Custer, plans to retire next year and will be succeeded by William Allender, executive vice president at the $365 million credit union.
February 10 -
CHICAGO – New York-based Polish & Slavic FCU this week opened its third area branch here in the suburb of Bridgeview to serve the area’s big Polish-American population.
February 10 -
SAN JOSE, Calif. – Technology CU has signed with Bluepoint Solutions to implement the company’s QwikDeposit ToGo as its mobile remote deposit capture platform.
February 10 -
WASHINGTON – Mortgage rates, following long-term bond yields, rose in the latest week, with the average rate on 30-year fixed-rate mortgages climbing to the highest level since April of last year, according to Freddie Mac.
February 10 -
BOSTON – As credit unions pile into new avenues of social media they will want to measure carefully the effects of this growing marketing tool, according to a new study released this week by Aite Group.
February 10 -
ALEXANDRIA, Va. – The NCUA Board will follow the banking regulators and propose a rule next week that will give the agency oversight over executive compensation for the largest credit unions, those over $1 billion. The rule to be issued for public comment will bar bonuses and other compensation packages tied to risky activities–such as the ones NCUA alleges helped sink WesCorp FCU–and will require the big credit unions to disclose pay packages for all executive officers. That will include: president, chief executive officer, executive chairman, chief operating officer, chief financial officer, chief investment officer, chief lending officer, chief legal officer, chief risk officer, or head of a major business line. The proposed rule is required under provisions of the Dodd-Frank Financial Reform Act which seeks to rein in excessive Wall Street compensation that was found to be tied, in many cases, to risky activities that caused some of the biggest losses during the financial crisis. The FDIC proposed additional provisions on the biggest banks, those over $50 billion, which would require those firms hold on to at least half the bonuses paid to top executives for three or more years. There are about 175 credit unions over $1 billion in assets that the NCUA will would apply to. The proposed rule is supposed to be effective six months after publication of the final rule in the Federal Register, with annual reports due within 90 days of the end of each institution’s fiscal year. The other agency’s proposing the rule are the Federal Reserve, Office of the Comptroller of the Currency, Office of Thrift Supervision, the Securities and Exchange Commission and Federal Housing Finance Authority, the regulator for Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks.ALEXANDRIA, Va. – The NCUA Board will follow the banking regulators and propose a rule next week that will give the agency oversight over executive compensation for the largest credit unions, those over $1 billion.
February 10 -
ST. PAUL, Minn. – Securian Financial Group received regulatory approval to write debt protection contractual liability policies in Florida, the company said yesterday.
February 9 -
MADISON, Wis. – CUNA Mutual Group reported yesterday net income surged 58% for 2010 to $87 million, despite a struggling economy and flat to negative growth at most credit unions.
February 9 -
INDIANAPOLIS – A member of Evansville Teacher’s CU was arrested and charged with trying to deposit a counterfeit U.S. Treasury check of $90,500 into a newly opened account.
February 9 -
TICONDEROGA, N.Y. – Ticonderoga FCU announced the retirement of Gregory Johnson, its longtime president and CEO, who will be succeeded by Shawn Hayes, chief financial officer at the $78 million credit union.
February 9 -
MANHATTAN BEACH, Calif. – Kinecta FCU, which turned a $71 million 2009 loss into a $15 million net for 2010, said yesterday it has opened a Midwest Operations Center in Rosemont, Ill., this month as part of the credit union’s expansion of its wholesale mortgage lending division.
February 9 -
UNIVERSAL CITY, Texas – Randolph-Brooks FCU said it has contracted with Great Bay Software to assist in the network discovery phase of deploying a Network Access Control solution.
February 9 -
ATLANTA – Georgia’s Own CU has installed Code Green’s web, mobile web, and mobile app editions of its branch and ATM locator solution, BranchMap.
February 9 -
VIENNA, Va. – Navy FCU, the largest credit union player in mortgages, originated $1.8 billion of residential loans in the fourth quarter, a 54% spike from the same period a year ago, and one of its best quarters ever.
February 9 -
AUGUSTA, Maine – Five credit unions have agreed to give no-interest loans to customers of an oil company in Brunswick that shut down abruptly last month.
February 9 -
COLUMBUS, Ohio – Corporate One FCU said it put most of its troubles behind it and continued to build capital in 2010, leaving it as one of the most likely big corporates to survive the system consolidation.
February 9 -
LENEXA, Kan. – CommunityAmerica CU paid its members a bonus dividend for 2010 of $1 million on Tuesday, double last year’s payout.
February 9 -
NORTH LIBERTY, Iowa – The city council voted Tuesday for a multi-million dollar package of property tax rebates for University of Iowa Community CU and the contractor for its proposed new headquarters as part of an effort to bring the troubled office project back to life.
February 9