CUNA News

CUNA has compiled its state-by-state Credit Union Financial Summary--highlighting financial trends of the past year and gleaned from the National Credit Union Administration's final call report release of 2009. One of the trends: states vary widely in loan growth.

The Missouri Highways and Transportation Commission approved a staff recommendation Wednesday to sever ties with the 10 credit unions located in Missouri Department of Transportation facilities in the state, according to the Missouri Credit Union Association.

The National Credit Union Administration, at its upcoming board meeting at 10 a.m. ET on Thursday, March 18, will discuss proposed rules addressing its regulatory flexibility program.

The momentum behind increasing the member business lending cap for credit unions continued to grow this week, with a total of 10 new legislators signing on to support Rep. Paul Kanjorski's (D-Pa.) H.R. 3380, the Promoting Lending to America's Small Businesses Act.

CUNA Vice President of Legislative Affairs Ryan Donovan said that CUNA is looking forward to the release of Senate Banking Committee Chairman Chris Dodd's (D-Conn.) financial regulatory reform legislation on Monday, and will fully analyze the legislation once it is released.

Sunday's H&FF Radio program takes a look at how to position your business for a successful sale, avoid getting stung on rebate offers, choose a legitimate debt management company, and benefit from the lessons of National Consumer Protection Week.

Bestselling author Jim Collins will tell credit unions how to go from "good to great" when he keynotes at The 1 Credit Union Conference in Las Vegas July 11-14.

Credit union liquidity increased and asset quality decreased, according to the U.S. Credit Union Profile report, CUNA's summary of National Credit Union Administration call report data released March 1.

Credit unions seeking ways to serve members with small businesses need to be alert to cyberattacks against the online banking accounts belonging to small and mid-size businesses and make sure their authentication processes can handle the attacks.

Phone calls about ATM cards, purporting to be from CUNA, flooded the Park Hills, Mo., area last weekend, said a local newspaper. The calls are a phishing scam and are not from CUNA.

The National Federation of Community Development Credit Unions' board has voted to make an additional $1 million in secondary capital available as matching funds for member community development credit unions that might not be immediately eligible for Community Development Capital Initiative investments.

There are many reasons why credit unions "have skyrocketed in popularity" with Mississippi consumers, according to Charles Elliott, president/CEO of the Mississippi Credit Union Association.

The Federal Trade Commission this week issued for public comment proposed rules that would change its current rules for for-profit companies that provide mortgage assistance relief services.

The National Credit Union Administration has transferred a lawsuit against Western Corporate FCU's former directors and current and former officers from the Los Angeles Circuit Court, a state court, to the U.S. District Court for the Central District of California.

Financial regulatory reform should include some "streamlining" of federal regulation to keep credit unions and other financial institutions out of the bog of repetitive regulations, but must also ensure credit unions continue to have their own regulator, CUNA President/CEO Dan Mica told a gathering of Washington insiders at the National Journal's "Power Breakfast" Wednesday.

The World Council of Credit Unions'Young Credit Union People Scholarship Program celebrates its 10th anniversary this year.

CUNA President/CEO Dan Mica in a comment letter to the National Credit Union Administration said that CUNA supports corporate credit unions but not the business model that many, but not all, used.

Credit union members have shifted from spenders to savers during an all-time low interest-rate environment. Now credit unions must prepare to deal with members' price sensitivity on the deposit and lending sides--while trying to rebuild balance sheets damaged by the economy and a record low interest rate environment.

WASHINGTON (3/10/10)--Speaking during a Tuesday House Financial Services Committee hearing on community development financial institutions, Committee Chairman Rep. Barney Frank (D-Mass.) suggested that he and committee colleague Rep. Maxine Waters (D-Calif.) could soon re-examine and consider expanding the reach of the Community Reinvestment Act.

Consumers should check out credit cards issued by credit unions to cope with an environment of new credit card fees and rules changes, USA TODAY said Tuesday.