NAFCU Services Releases Webcast

MADISON, Wis.-The rise of credit card fraud and identity theft over the last few years has forced the cooperative movement's largest insurer to change its approach to attacking the problem.

SAN ANTONIO, Texas-SWBC has rolled out a new cyber security and liability program that it said would both help prevent fraud and mitigate losses should a client CU be compromised.

MADISON, Wis.-Wire and ACH fraud appear to be on the rise once again, according to CUNA Mutual. The big driver? Mortgages.

SCHAUMBURG, Ill.-No matter what the economy does, credit unions looking to keep their insurance costs down and their benefits up just need to do the basics very well.

The task force report comes as NCUA is collecting public comments on its proposed reforms and as more than half of the corporate are reporting losses for 2009.

The task force proposal recognizes the critical role the corporates play in the payments and settlements systems for credit unions and in other areas, and foresees some kind of structure to enable that role to continue. But it makes no definite proposals along those lines.

SAN FRANCISCO-Some of the other measures Patelco has undertaken to fix its balance sheet have included ...

Fed Chairman Bernanke Won't Back MBL Hike

RICHMOND, Va.-A charter conversion bill that would allow state-chartered CUs to convert to mutual savings banks in the same way federally chartered CUs do appears well on its way to passage.

WASHINGTON-CUNA Chairman Kris Mecham's wife Stephanie used to try to bring him into line by suggesting if he didn't behave, the elders of the Church of Jesus Christ of Latter Day Saints were going to send him on a mission to some remote place - such as Mongolia.

WASHINGTON-CUNA Mutual Group is projecting it will report 2009 net income of approximately $50 million. That's a return to the black for a company that reported a loss in 2008.

Call it a not-so-subtle indicator of the nation's mood-when you land at Washington's Reagan National Airport you are greeted by souvenir stands at which the most prominent t-shirt on display reads, "I love my country, it's the government I'm afraid of."

Your members typically won't have a very good understanding of what title insurance covers or what it costs. Yet title insurance is one of the largest expenses when closing on a purchase or refinance.

The timing of NCUA's "solution" (to the troubled corporate CU system) is somewhat suspect, but at least the trade group hit the nail on the head regarding corporate investing.

Should natural person credit unions continue to support corporate credit unions? A better question may be: can credit unions trust corporate credit unions to operate in their best interest?

CHANTILLY, Va. – Online Resources Corp. on Friday reported a fourth quarter loss of $1.1 million and loss for the full year of $4.1 million.

WASHINGTON – Fannie Mae late Friday reported a $16.3 billion loss for its fourth quarter, making a $72 billion loss for the year, and asked for an additional federal cash infusion of $15.3 billion.

NEW YORK – M&F Worldwide, controlled by corporate raider Ronald O. Perelman, said the buyback of $137 million of its debt at a discount enabled it to book a $2.8 million net for the fourth quarter and a $119.7 million net for the year.

SANTA FE, N.M. – The long-time CEO of Land of Enchantment FCU last week filed suit against the board of the $11 million credit union in state court claiming he was dismissed after he questioned loans made to friends and relatives of a loan officer.