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BOSTON - About 100 state-chartered credit unions got expanded powers last week to offer additional loans and services, under a new law giving them parity with federal charters.
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ALEXANDRIA, Va. - Credit unions are calling on NCUA to allow them to charge prepayment penalties on member business loans, a practice that is currently prohibited by NCUA.
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TALLAHASSEE, Fla. - Just after a year since converting to a mutual saving bank, Sunshine Bancorp, the former Sunshine State CU, has filed to raise as much as $10.7 million in an initial stock offering.
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CHARLESTON, S.C. - NCUA sold off the remnants of the failed credit union start-up Port Trust FCU it had liquidated two weeks ago.
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AUGUSTA, Maine - The Maine Human Rights Commission last week found that Rainbow FCU discriminated against a disabled job applicant when it refused to consider her for a teller job last year because of her physical condition.
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Redwood CU, Santa Rosa, Calif., named Michelle Daunch Cloverdale branch manager.
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SAN FRANCISCO - Two robbers thwarted by a bandit barrier at Postal CU returned two days later and made off with more than $76,000, but were caught shortly afterward.
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SAN DIEGO - As many as 7,000 city employees did not get their paychecks automatically deposited Aug. 8 because of an employee mistake at San Diego Metropolitan CU, which disburses the city's payroll.
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KANSAS CITY, Mo. - While most credit union annual meetings struggle to attract members, CommunityAmerica Credit Union has moved its meeting to a local minor league baseball park.
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LAKE JACKSON, Texas - Texas Dow Employees CU rolled out a new package of financial management tools targeted at members between 19 and 25 years old, so-called Generation Y.
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WASHINGTON - New members of FedChoice FCU here have a real reason to say "Thank God It's Friday."
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Seasons FCU in Middletown, Conn. received coverage in the Record Journal for its move into an "eco-friendly" facility. The credit union is relocating to a LEED-certified building, the story reported, that includes floors made of recycled glass, and which uses power derived from a mix of wind and hydropower. The wood is certified to come from reforestry sources, the story noted.
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LAS VEGAS - The red ink has been flowing at financial institutions across the country, led by the spectacular failure of IndyMac, giving American consumers plenty to worry about. With all the talk about bank failures in the news, Credit Union Journal asked attendees at the recent National Directors' Convention here how their members are reacting, and what they are doing to allay those fears?
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LAS VEGAS - This is "Go Time" for credit unions, and they need to change the way they do business.
August 15 -
RICHMOND, Va. - It's unusual to find a coin-counting machine in a U.S. credit union-only about 25% offer the service-yet automated coin-counting helps keep members from wandering off to other financial institutions, according to two credit unions.
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LAS VEGAS - Safety and soundness questions spotlighted by the IndyMac Bank failure as well as the more typical governance issues sparked passionate discussion at a recent conference for credit union directors, here.
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The following are members of Credit Union Journal's Technology Panel.
August 15 -
WILLIAMSBURG, Va.-Credit unions can meet "Red Flag" rules using an eight-step process, Cliff DeGroot, attorney and CPA of Portland, Ore.-based Farleigh Wada Witt Attorneys, told attendees at the recent CUNA Technology Council Summit here.
August 15