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Market Intelligence:
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  • CUJ content
    Dallas Retiree Wins Neighborhood CU’s $25,000 Savings Award

    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
  • CUJ content
    American Airlines FCU Pays Members $9.6 Million Bonus

    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
  • Technology
    ‘Zeusbot’ Bedevils CUs

    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
  • Technology
    Simulations To Test Impact Of Cyber Attacks On Financial Network

    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
  • CUJ content
    FDIC To Retain Share Of Distressed Loan Sale

    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
  • CUJ content
    Self-Help FCU Carves Out California Market With Purchase Of Another Failed CU

    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
  • CUJ content
    Survey: At My Credit Union in the Coming Year, I Resolve to:

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    January 8
  • Branch network
    A-K Valley FCU Shutters Oft-Robbed Branch

    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
  • Branch network
    Affinity Plus FCU Is Hot For Former Starbucks Site

    ST. PAUL, Minn. – Affinity Plus FCU said it is renovating a former Starbucks location in Hasting into a new branch.

    January 7
  • CUJ content
    DayMet CU Chooses Financial Services Veteran As CEO

    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
  • CUJ content
    Texas CUs Have New Disclosure Requirements

    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
  • CUJ content
    CUSO Financial Introduces ActivePassive Portfolios

    SAN DIEGO – CUSO Financial Services, LP, said yesterday it has launched ActivePassive Portfolios, combining both active and passive (index-based) investment strategies.

    January 7
  • CUJ content
    Sentencing Delayed In CU National Fraud

    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
  • Performance reports
    North Carolina SECU Had Another Banner Year

    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
  • Branch network
    Coastal FCU To Close Four Branches

    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
  • Lending
    Long Island CUs Waiving First Month's Car Payment

    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
  • Lending
    Mortgage Rates Ease In Year’s First Week

    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
  • CUJ content
    Congress Eyes More Curbs On Credit Cards

    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
  • CUJ content
    WOCCU Gets Gates Foundation Grant

    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
  • CUJ content
    Judge Orders Discover To Pay Morgan Stanley Part of Visa, MasterCard Antitrust Settlement

    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
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23RD ANNUAL THE MOST POWERFUL WOMEN IN BANKING

Meet The Most Powerful Women in Banking 2025, our annual ranking of the executives at the pinnacle of the industry.

ABM1025_Cover.jpg

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