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DALLAS – A surprised – and somewhat skeptical – retiree received a very special delivery to start the new year: an oversized check for $25,000 delivered right to his door by leaders of Neighborhood CU.
January 10 -
FORT WORTH, Texas – American Airlines FCU paid its members a $9.6 million year-end dividend, the biggest in the industry this year.
January 10 -
AUSTIN, Texas – Security experts are monitoring credit unions for a so-called "zeusbot" attack, which is bypassing many anti-virus and malware scanning software used by credit union members, putting their personal financial jeopardy when they log on to their home banking service.
January 10 -
WASHINGTON – Thousands of credit unions, banks, payment processors and other businesses are expected to join a series of simulated cyber attacks next month, which will test the vulnerability of the financial network.
January 10 -
WASHINGTON – The FDIC said Friday it sold a portfolio of 1,200 commercial loans to Colony Capital LLC of Santa Monica for $1.02 billion at a steep discount.
January 10 -
BAKERSFIELD, Calif. – Self-Help FCU, the start-up community development sister of Self-Help CU, continued to grow by leaps and bounds with Friday’s acquisition of Kern Central CU, the first credit union failure of 2010.
January 10 -
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LOWER BURRELL, Penn. – A-K Valley FCU said its board has decided to close its Homewood branch after the outlet, robbed four times in the past two years, was burgled on New Year’s Day.
January 7 -
ST. PAUL, Minn. – Affinity Plus FCU said it is renovating a former Starbucks location in Hasting into a new branch.
January 7 -
DAYTON, Ohio – DayMet CU announced it has hired Vaughn Johnson, a former executive at Lords Financial Group, as president and CEO of the $92 million credit union.
January 7 -
AUSTIN, Texas – Regulators explained to state chartered credit unions new annual disclosure requirements approved by the state CU Commission late last year that will include providing an annual report to all members.
January 7 -
SAN DIEGO – CUSO Financial Services, LP, said yesterday it has launched ActivePassive Portfolios, combining both active and passive (index-based) investment strategies.
January 7 -
NEWARK, N.J. – A federal judge has approved a request to postpone next month’s scheduled sentencing for Michael McGrath, president of U.S. Mortgage/CU National Mortgage, in the $140 million theft of credit union funds, until March 22.
January 7 -
RALEIGH, N.C. – State Employees’ CU reported another successful year, even as the recession was spreading across the state creating one of the highest unemployment rates in the country.
January 7 -
RALEIGH, N.C. – Coastal FCU, hit hard by the state’s recession, announced yesterday plans to shutter four branches as part of an effort to refocus on its core operations in the Raleigh market.
January 7 -
HAUPPAUGE, N.Y. – In an effort to boost car sales, three Long Island credit unions and GrooveCar, Inc., will begin waiving the first monthly payment on auto loans for members who purchase new and used cars, effective Jan. 15.
January 7 -
WASHINGTON – Home loan rates dipped this week, the first decline in a month, but still remained above record lows, according to Freddie Mac.
January 7 -
WASHINGTON – Lawmakers are scheduled to review a bill later this month that would set new curbs on credit cards by capping interest rates at 16% and late payments and overdraft fees at $15.
January 7 -
MADISON, Wis. – The World Council of CUs said yesterday it has been awarded a $2.1 million grant from the Bill & Melinda Gates Foundation to help bring credit union services to more people in Kenya.
January 6 -
NEW YORK – A state judge ordered Discover Financial Services, spun off from Morgan Stanley in 2007, to pay Morgan half of the $2.75 billion funds paid to it by Visa and MasterCard under a 2004 antitrust settlement.
January 6