FICO, Cypress Software Team Up

ST. PETERSBURG, Fla.-The "floor" has dropped from beneath credit card issuers with a surprise rules interpretation by the Federal Reserve, and now the race is on to meet a Feb. 22 deadline.

LAS VEGAS-"Obviously, 2009 has been a challenging year," said Sarah Canepa Bang, president and CEO of FSCC. "A lot of credit unions have used FSCC shared branching to adapt this year. In the face of branch closures, shared branching helps continuity and serving members.

PLEASANTON, Calif.-1st United Services Credit Union is looking to build its online channel, leading the effort with its "virtual checking" account.

LAS VEGAS-Tony Boutelle, president and CEO of Credit Union Direct Lending (CUDL), noted the indirect lending company set records in 2009 in both number of dealers added to its platform, and the number of dealers it lost.

LAS VEGAS-Debit is "the place to be right now," according to Stan Hollen, president and CEO of CO-OP Financial Services. "Debit is growing, and remains a focus for the CO-OP Network."

LAS VEGAS-CUNA Mutual Group has "strong capital and a strong outlook," said Bob Trunzo, the company's chief operating officer.

ORLANDO, Fla.-Corporate credit unions continued to hold securities showing unrealized losses of $17 billion at year-end 2009, which is down from the more than $25 billion in unrealized losses corporates held at the beginning of the year, but NCUA cautioned against reading too much into those numbers because growing amounts of losses are being realized.

WALLINGFORD, Conn.-Constitution Corporate FCU, which already had a $25-million deficit guarantee from NCUA, reported last week it lost $100.2 million in 2009, wiping out all of its members' capital.

Freddie Mac To Buy Nearly All Delinquent Mortgages

OAKLAND, Calif.-A simmering battle over the one-time headquarters of defunct Kaiperm FCU is shining a rare light on the behind-the-scenes machinations involved in the sale - the so-called purchase and assumption-of failed credit unions.

WASHINGTON-A recent survey commissioned by the Consumer Federation of America (CFA) and CUNA revealed that, while most consumers (61%) are aware there are new credit card protections, most (65%) don't know they take effect later this month and don't understand the specific protections Congress approved last year.

Under the new law, card issuers must:

Golden Mirror Awards Call For Entries

Looking to better penetrate that Gen X, Gen Y and Gen Next markets, while also adding a revenue stream? Get ready to stock those branches with Doritos and Twinkies.

A CIO raised the issue of disaster planning and asked if IT backup is enough, and if it's not, what else might need to be considered.

A litmus test for CU folks to determine if they are still a credit union or a bank-in-sheep's clothing. See how you match up.

MIAMI, Ariz. – The former manager of Marian Miami FCU this week pleaded guilty to a $2.2 million loan scheme that bankrupted the one-time $10 million credit union for a local church.

WHITEFISH, Mont. – Whitefish CU said it has signed with Jack Henry & Associates to install the company’s Symitar core processing system.

LEWISTON, Maine – Lewiston Municipal FCU announced the hiring of Amanda Piper as president and CEO of the $16 million credit union.