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Market Intelligence:
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  • CUJ content
    Members 1st FCU Not Slowed by Adverse Court Ruling

    YORK, Penn. – Members 1st FCU continued to thumb its nose at the bankers, in the face of this summer’s court-ordered roll-back of its field of membership, said it is opening another new branch here.

    October 2
  • Lending
    Mortgage Rates Hold Steady

    McLEAN, Va. – Mortgage rates remained unchanged this week after surging last week, amid continuing turbulence in the financial markets, according to Freddie Mac.

    October 2
  • CUJ content
    NCUA Grants Only Third New Charter This Year

    ALEXANDRIA, Va. – NCUA announced yesterday it has approved a charter for Oak Cliff Christian FCU, only the third new credit union approved this year, putting 2008 on pace for the fewest new credit unions in decades.

    October 2
  • Performance reports
    NCUA Takes Over Another CU Failure

    WICHITA FALLS, Texas – NCUA said it shut down Wichita Falls CU and sold off the remnants to the $5 million credit union failure to nearby Postel Family CU.

    October 2
  • CUJ content
    Schwarzenegger Terminates CU-Backed Data Security Bill

    SACRAMENTO, Calif. – For the second straight year, Governor Schwarznegger vetoed the data security bill pushed by the credit union lobby, even after credit unions returned to the legislature this year to address some of the concerns he expressed last year.

    October 2
  • CUJ content
    Christmas Comes Early For Some CUs

    TULLAHOMA, Tenn. – Even as Congress is working to quell the panic in the financial markets, some credit unions have sought to leverage the news by announcing special dividends usually reserved for Christmas time.

    October 2
  • CUJ content
    Bailout Bill Gains Support Among CUs

    RIVERSIDE, Calif. – Support for the mortgage bailout plan appears to be growing among credit union executives, especially in ground zero of the mortgage crisis, just as the House is expected to vote an amended version today.

    October 2
  • CUJ content
    Senate Passes Bailout Bill After Adding Billions in Tax Breaks

    WASHINGTON – The Senate overwhelmingly approved the $700 billion bailout of the mortgage industry last night after adding tens of billions of tax breaks, then sent the bill back to the House, which narrowly defeated an earlier version on Monday.

    October 1
  • CUJ content
    Getaway Car Crash Kills CU Robber

    DES MOINES, Iowa – A man who robbed EdCo Community CU yesterday morning died a short while later after crashing the car he stole from one of the employees to make his getaway.

    October 1
  • CUJ content
    University of Wisconsin CU Pledges $215,000 to UW Scholarships

    MADISON, Wis. – University of Wisconsin CU announced yesterday a $215,000 commitment to help fund the University’s scholarship initiative, called "Great people. Great place."

    October 1
  • CUJ content
    North Carolina State Employees CU Provides $250,000 to Build Hospice

    RALEIGH, N.C. – State Employees CU said its SECU Foundation has awarded a $250,000 matching grant to Hospice of Wake County.

    October 1
  • CUJ content
    Leominster CU Plans Headquarters Expansion

    LEOMINSTER, Mss. – Leominster CU has asked city officials for approval to build a 31,000-square-foot, three-story building that will connect to its headquarters.

    October 1
  • CUJ content
    Fianancial Plus CU’s Gary Peterson Retires

    DES MOINES, Iowa – Gary Peterson, president and chief executive of $70 million Financial Plus CU announced he will retire at year-end.

    October 1
  • CUJ content
    UniPro to Merge With CUSource

    HELENA, Mont. UniPro Systems, the data processor for area credit unions, said it has agreed to merge with CUSource.

    October 1
  • CUJ content
    PSCU Financial Buys New Phoenix Office

    ST. PETERSBURG, Fla. – PSCU Financial Services said yesterday it has acquired a two-story building in north Phoenix for $24.5 million.

    October 1
  • CUJ content
    Board Can Toss Director for Missing Meetings

    OLYMPIA, Wash. – State chartered credit unions may dismiss a member of its board of directors if the member misses four regular meetings in a year without being reasonably excused, state regulators ruled yesterday.

    October 1
  • CUJ content
    Manager Commits Suicide After Admitting to Looting Tiny CU

    CHICAGO – Authorities are investigating the books of two tiny credit unions after their manager left a suicide note confessing to stealing thousands of dollars from one of them.

    October 1
  • CUJ content
    Centris FCU Sets Bankruptcy Sale for Failed Resort Project

    OMAHA – Centris FCU will try again next week to auction of property it obtained under bankruptcy of a failed resort project.

    October 1
  • CUJ content
    Corporates Report More Mortgage Losses

    WASHINGTON – More corporate credit unions reported this week that losses on their mortgage securities continued to increase, just as the Congress was debating a plan to buy distressed mortgage assets.

    October 1
  • Performance reports
    Question Remains Over Fannie, Freddie Stock

    WASHINGTON – Included in the failed $700-billion financial rescue plan by Congress was a tax change that would have allowed financial institutions to treat Fannie Mae and Freddie Mac preferred stock losses as ordinary losses.

    September 30
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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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