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SAN FRANCISCO – Credit unions may find themselves competing against national lenders that are ramping up offers of unsecured personal loans to consumers who can no longer borrow against their home equity and have grown disillusioned with credit cards.
September 29 -
NEW YORK – JPMorgan Chase & Co. said it is stopping 56,000 foreclosures in process pending a review of whether employees properly signed and verified information in foreclosure documents.
September 29 -
SAN BERNARDINO, Calif. – Officials with the Inland Empire 66ers, a minor league baseball team here, said they are hopeful that their home field will continue to be named Arrowhead Credit Union Park through the end of 2011, even though NCUA has placed the credit union into conservatorship.
September 29 -
WASHINGTON – The Treasury Dept. is expected to announce today the final list of community development financial institutions (CDFIs), including credit unions, that have been chosen to participate in its Community Development Capital Initiative (CDCI), which is making millions of dollars in low-interest, long-term equity-like loans to CDCUs.
September 29 -
STOCKTON, Calif. – Waiting for NCUA to issue its final Corporate System Resolution has been a “barrier” to natural-person CUs going forward, according to a member of CUNA’s Corporate Credit Union Next Steps Working Group, who said he was glad the regulator has laid out what its plans and proposals are.
September 29 -
MADISON, Wis. – CUNA Mutual Group has teamed with Kroll Inc. to offer a new insurance policy and related services that protect credit unions and their members in the event of an internal data breach that compromises sensitive member data.
September 29 -
HARRISBURG, Penn. – At a time when many of the big card issuers are scrambling to create new fees and raise rates on existing balances, Pennsylvania State Employees CU is lowering the rate on certain card balances.
September 29 -
LAS VEGAS – Two Nevada credit union failures taken over last year by out of state credit union giants will cost NCUA and the National CU Share Insurance Fund as much as $42 million in losses, the federal regulator reported this morning.
September 29 -
CLARIFICATION: An item on CU Journal’s Daily News Sept. 28 on a college professor who had bilked numerous institutions and lenders should have noted that Congressional FCU did not experience any losses as a result of the scam. It was Congressional FCU that notified authorities of the suspicious activity.
September 28 -
ST. LOUIS – Members of St. Louis Community CU were mourning last week’s death of Janice Mosby, who served on the credit union’s board for 40 years.
September 28 -
HELENA, Mont. – Ben Diveley, 34, has been ordered to pay $88,818 in restitution and spend the next year in prison after being found guilty of embezzlement, money laundering and identity theft in connection with his job as a loan officer at Helena Community CU here.
September 28 -
CLARKSVILLE, Tenn. – Fort Campbell FCU and the Clarksville-Montgomery County School system opened two student-run branches at North East High School and Rossview High School.
September 28 -
MONETT, Mo. – Symitar Systems reported as of the conclusion of its fiscal year, June 30, it had added 32 credit unions to its client roster during the preceding 12 months.
September 28 -
RANCHO CUCAMONGA, Calif. – As the next few years unfold and NCUA pursues its plan to create “bridge” corporates as a means of executing its vision for the role the agency sees corporates eventually playing, CO-OP Financial Services said it will be seeking to play a role.
September 28 -
SAN FRANCISCO – Despite a 12.5% increase in the number of U.S. adults who were victims of identify fraud in 2009, there has been a sharp, 42% decrease in the adoption of identify fraud protection services, according to a new Javelin Strategy & Research report.
September 28 -
PLYMOUTH, Mich. – Lake Trust CU has expanded its successful SoSMART personal checking account that rewards members with free checking, great interest and nationwide ATM fee refunds to include southeast Michigan and Livingston/Washtenaw areas.
September 28 -
SEACAUCUS, N.J. – XCEL FCU said it has been selected by the Executive Women's Golf Association (EWGA) to provide its members with financial services.
September 28 -
PHOENIX – Leaders at corporate credit unions were still digesting mountains of information received from NCUA Friday and Monday, but three expressed optimism as to their own viability.
September 28 -
That’s the consensus of two members of CUNA’s Corporate Credit Union Next Steps Working Group, who both agreed that what NCUA unveiled Friday was closely in line with the team’s expectations.
September 28 -
JACKSONVILLE, Fla. – Florida Telco Credit Union is changing its name to 1-2-1 Financial Credit Union.
September 27