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WARRENVILLE, Ill. - Corporate credit unions are on alert after the Federal Reserve's 50-basis-point rate cut had some observers interpreting the Fed's move as a signal it is concerned the credit-market crunch will slow economic activity well into 2008.
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WALL STREET - Three more speculators were charged last week with illegally gaining access to lucrative initial public offerings of mutual savings banks-including several former credit unions-in a scheme that netted them more than $3 million.
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MANTEO, N.C. - Representatives of North Carolina State Employees CU are talking with Dare County officials to expand the giant credit union's affordable housing program for teachers, piloted in nearby Hertford County earlier this year.
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WEST PALM BEACH, Fla. - Searching for a provider of a particular product or service for your credit union? A new tool is available to help guide those decisions. Now on www.cujournal.com is a complete list of providers by business line category. Just click on link for product listings. If your company is not listed among the providers, you can also sign-up for inclusion online and select from the various packages. Should you have a question, please contact Greg Halpern at ghalpern@cujournal.com or 888-832-2929. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
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SAN ANTONIO, Texas - In order to boost member debit card usage and separate itself from some heavyweight competition, United SA Federal Credit Union here is increasing dividends for accounts with as little as one penny in an account.
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In a story on local financial institutions and the advice they provide, the Harrisburg Patriot-News included Belco Community CU and Pennsylvania State Employees CU, along with PNC Bank. The story focused on helping consumers distinguish between financial "advice" and a financial "sales pitch." The story noted that PSECU has expanded its financial services division from three people to 11, and that members of BCCU can contact a counselor by phone to receive information about budgeting, home buying, and debt management. Free one-hour counseling sessions are also available through a contracted third party company.
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SAN DIMAS, Calif. - WesCorp FCU said credit ratings service agency, Standard & Poor's (S&P), affirmed its long-term credit ratings (AA-/Stable/A-1+) and gave the corporate credit union a "stable" outlook.
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WASHINGTON - CUNA continued last month to build ties with congressional leaders and key constituency groups, doling out $20,000 to five so-called leadership PACs.
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LANSING, Mich. - Though the GM autoworkers strike was short-lived, credit unions serving GM employees were ready to help members make ends meet had the union action been in it for the long haul.
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DAYTON, Ohio - NCR Corp. is spinning off its Teradata warehousing division into a separate company, leaving its core financial self-services unit on its own again.
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PASADENA, Calif. - LA Financial Credit Union and the NBA's Los Angeles Clippers will team up during the coming season to promote literacy-especially financial literacy-in students throughout Los Angeles County.
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LAS VEGAS - "Executive skills" are not limited to executives, but they do map neatly to characteristics needed in the workplace, according to the author of books on success in business.
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WASHINGTON - A bipartisan group of Texas House members urged the Financial Services Committee to hold a hearing on the credit union regulatory relief bill, known as CURIA.
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MADISON, Wis.-For the first time in history, global credit union assets have now surpassed $1 trillion.
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Postal rates are changing. First Class mailing items have gone from 39 cents to 41 cents, and the cost for other types of business mail are also going up, including rates on non-standard pieces like 9" x 12" envelopes and even "bulk rate" for pre-sorted automated mailings.
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HOLLYWOOD, Calif. - Taking full advantage of its field of membership, First Entertainment Credit Union sent out a series of promotional mailings that parody movie posters to sell savings options. First Entertainment, which as the name implies serves much of California's entertainment industry, is sending one card to members every two weeks to remind members of its offerings and also build top-of-mind awareness. It has created five cards in all. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
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NEW YORK - The College Board, which administers academic tests including the SAT and other Advanced Placement exams, is getting out of the student-loan business. The College Board began offering student loans in the early 1990s, partnering with companies that included Sallie Mae and Citibank. The lenders extended the money, while the College Board received a sort of finder's fee for referring the students.
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