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GREEN BAY, Wis. – Pioneer CU, located a few blocks from the Green Bay Packers’ Lambeau Field, donated more than $23,000 to local non-profit groups by parking cars for football games.
January 23 -
EAST LANSING, Mich. – Students are invited to compete for $100 gift cards, beach towels, travel accessories, and an underwater camera as part of a scavenger hunt organized by Michigan State University FCU, called Financial 4.0.
January 23 -
SANTA ROSA, Calif. – Redwood CU is seeking applicants for its new Amazing Savers Contest, which will follow five contestants as they transform their finances to compete for $10,000.
January 23 -
PLEASANTON, Calif. – Patelco CU plans to add as many as 24 new service reps as it moves to its new headquarters campus here from its longtime downtown San Francisco home.
January 23 -
HANFORD, Calif. – Families and Schools Together FCU officially opened its new headquarters in a renovated Sears department store, more than two years in the making.
January 23 -
WASHINGTON – Regulators shuttered four banks Friday, making a total of seven failures so far this year.
January 23 -
LINCOLN, Neb. – A key lawmaker last week introduced legislation that would allow credit unions to stage their own savings lottery or raffle, as part of an effort to boost savings among Nebraska’s consumers.
January 23 -
RALEIGH, N.C. – State Employees’ CU has launched an Estate Planning Essentials Pilot Program for basic estate planning and will preparation, which initially will be available to the 3,000 volunteers of the $21 billion credit union.
January 23 -
WASHINGTON – The Federal Reserve’s proposal to slash interchange fees on debit transactions by as much as 70% could devastate the finances of some credit unions, forcing them to institute fees on no-charge services such as checking, credit unions are telling the Fed.
January 23 -
WASHINGTON – NAFCU began efforts today aimed at repealing the Dodd-Frank Act’s debit interchange amendment, calling on Senate leaders to eliminate the provision they approved just last year. “The Durbin Amendment, which called on the Federal Reserve to implement burdensome new price caps on debit interchange fees, was a hastily included provision that was never fully considered or even debated by the Senate,” Dan Berger, chief lobbyist for NAFCU, told leaders of the Senate Banking Committee in a letter this morning. “Last-minute handwritten modifications on the Senate floor were never deliberated and did little to alleviate the concerns of small financial institutions like credit unions.” The NAFCU leader was referring to the introduction of the controversial amendment to the landmark financial reform bill which was added to the bill with no debate by Democrats or Republicans. “Instead,” wrote the credit union lobbyist, “this price-fixing language interjects the government between two industries and destroys a system that was developed by the free market and has worked successfully for the American public, as evidenced by the continued record use of debit cards during the holiday season. In fact, based on the Federal Reserve’s proposed rule, it appears that the worst case scenario is materializing.” NAFCU sent a similar letter to leaders of the House Financial Services Committee today and the Electronic Payments Coalition, comprised of banking and credit union groups, as well as Visa and MasterCard have also begun working for repeal. NAFCU’s bid comes as credit unions, which are meant to be exempt from the interchange provision, are deluging the Federal Reserve with comments saying the Fed’s proposal to slash interchange by an average of 70% for the largest institutions will negatively impact them too. The credit unions overwhelmingly say the market will not support a two-tiered system–one tier of lower fees for large institutions and one for smaller ones.
January 21 -
SEATTLE – Puget Sound Cooperative CU plans to open a new branch in the former home of Books by the Way, a local bookstore.
January 20 -
METHUEN, Mass. – Methuen Municipal Employees FCU is moving from the Searles Building, the city hall, to a new location in Methuen’s historic district.
January 20 -
WASHINGTON – Engraving and Printing FCU said it contracted with COMPASS 4 CUs to provide a suite of regulatory compliance solutions.
January 20 -
ALBUQUERQUE, N.M. - New Mexico Energy FCU signed a credit card processing deal with Fifth Third Processing Solutions.
January 20 -
WASHINGTON – Long-term mortgage rates moved slightly higher this week, after falling for the previous three weeks, according to Freddie Mac.
January 20 -
ITHACA, N.Y. – CFCU Community CU announced yesterday it hired Lisa Whitaker, head of Frederick, Md.’s COMSTAR FCU the past nine years, as new president and CEO of the $710 million credit union.
January 20 -
FITCHBURG, Mass. – Workers’ CU said yesterday it named Douglas Peterson, its chief financial officer for the past 15 years, the new president and CEO of the $800 million credit union.
January 20 -
WALL STREET – NCUA sold another $1.5 billion of its NCUA Guaranteed Notes yesterday, making a total of $19 billion of corporate bonds sold so far.
January 20 -
ALEXANDRIA, Va. – Christopher Allen, a former senior vice president at Houston’s First Service CU, was banned from the credit union industry by NCUA yesterday for stealing funds from more than 100 dormant accounts.
January 20 -
CHANDLER, Ariz. – First CU launched a new promotion yesterday, “Working to Save You a Million,” aimed at finding its members new ways to save money.
January 20