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The Albany Times Union did a story about credit unions seeking state approval to gain access to the multibillion-dollar business of municipal deposits-a move opposed by commercial banks. A bill was offered in 2006 to allow CUs and small savings banks to take municipal deposits, but it was not approved. A different version might be introduced later this year.
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Credit Union Journal Subscribers can access all content from the print edition every Monday simultaneously with its publication at www.cujournal.com. Additional resources include:
February 5 -
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WILLISTON, Vt. - Yet another massive data breach is affecting the credit union industry, this time in the cold climate of the Green Mountain State.
February 5 -
NEW YORK - Brokerage giant Merrill Lynch has agreed to acquire First Republic Bank of San Francisco for $1.8 billion in cash and stock. The deal gives the biggest U.S. broker the ability to access to $10.7 billion of assets held by First Republic, which provides investment services including trust banking and luxury home lending. Merrill, which also owns a state-chartered industrial loan company through which it accepts retail deposits, would not be affected by pending federal legislation to bar non-financial companies from the banking business. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com
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MISSOULA, Mont. - Montana Educators CU has a specialty: getting members to use multiple products and services.
February 5 -
RALEIGH, N.C. - State Employees' Credit Union wants its members to look at themselves, so they are holding up a very large mirror, eventually in all 205 branches.
February 5 -
LANSING, Mich. - In an effort to provide strategies to help you make this the most successful year at your credit union, the Credit Union Journal has launched its "7 in '07" series, chock full of great ideas to implement at your credit union.
February 5 -
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ARLINGTON, Va. - NAFCU has nominated itself and United Nations FCU for membership on the Financial Crimes Enforcement Network's Bank Secrecy Act Advisory Group (BSAAG).
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In the Dec. 21 issue, the Credit Union Journal did not correctly clarify the timeframe that Arnold S. Rosenthal, chairman of Lafayette FCU, allegedly made comments that sources attributed to him. Mr. Rosenthal retired from the Small Business Administration in 2003.
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ARVADA, Colo. - When Colorado's and Wyoming's state legislatures open their 2007 sessions the states' credit unions say they will be well-positioned. The Credit Union Associations of Colorado and Wyoming said its stepped-up political advocacy should pay dividends as credit unions were active on a bipartisan basis in assisting with grassroots organizing, fundraising and endorsement of candidates who support credit unions.
February 5 -
LANSING, Mich. - In an effort to provide strategies to help you make this the most successful year at your credit union, the Credit Union Journal has launched its "7 in '07" series, chock full of great ideas to implement at your credit union.
February 5 -
SANTA ROSA, Calif. - This Northern California community soon will have commercial air service for the first time since shortly after the Sept. 11 terrorist attacks, thanks in part to Redwood Credit Union's campaign to gather pledge travel dollars toward Horizon Air flights.
February 5 -
FRAMINGHAM, Mass. - Credit unions affected by the massive security breach at TJX have notified the national retailer they will seek compensation for hundreds of thousands of dollars, or more, of costs associated with recalling and reissuing credit cards to protect their members against fraudulent activity.
February 5 -
KENSINGTON, Md. - The board at Lafayette FCU, which has withdrawn its plan to convert to a bank following problems surrounding the member vote, issued a statement recently via the credit union's website blaming the problems on the firm that audited the vote, trade groups and others.
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