The National Credit Union Administration increased National Credit Union Share Insurance Fund reserves for losses to $286 million at the end...
Number of Problem CUs Fell During Q3 2018 "Credit News 24"
The number of problem credit unions fell during the third quarter of 2018, according to the National Credit Union Administration. At the end...
Chartered for the Purpose of Making Member Business Loans "Credit News 24"
The National Credit Union Administration's Office of Consumer Financial Protection and Access is providing guidance to insured credit un...
Summit CU Breaks Ground on New HQ Building "Credit News 24"
Summit Credit Union (Madison, WI) has broken ground on its new 152,000-square-foot, six-story headquarters building in Cottage Grove. The ne...
Illinois CU Regulator Suspends Operations of Route 1 CU for 60 Days "Credit News 24"
The Illinois Division of Financial Institutions suspended the operations of Route 1 Credit Union (Paris, IL) for 60 days. The state regulato...
Report: CU Business Loans Have Grown Rapidly in Post-Recession Period "Credit News 24"
The Federal Reserve reported that small loans to businesses have grown rapidly in the the post-recession period, according to a Report to th...
Illinois Amends St. Elizabeth CU's Suspension Order "Credit News 24"
The state of Illinois announced on October 5 that it was amending the suspension order for St. Elizabeth Credit Union (Chicago, IL). The Ill...
NCUA Chairman McWatters: Equity Ratio of 1.30 Percent Not Sufficient to Weather 2007-2009 Recession "Credit News 24"
National Credit Union Administration Chairman McWatters sets the record straight that the National Credit Union Share Insurance Fund's N...
Eight Lawmakers Write NCUA over Melrose's Treatment of Taxi Medallion Borrowers "Credit News 24"
Crain's New York Business is reporting that eight New York Democratic lawmakers wrote National Credit Union Administration (NCUA) Chairm...
Cost of Funds for CUs About to Rise "Credit News 24"
Depository institutions need to plan for higher cost of funds, as higher interest rates cause depositors to shift to higher yielding deposit...
180 CUs Borrowed from Fed's Discount Window in Q3 2015 "Credit News 24"
During the third quarter of 2015, 180 credit unions borrowed from the Federal Reserve's Discount Window. In comparison, 166 credit union...
Tuesday, October 9, 2018
Sponsorships
Founders FCU Partners with Clemson University and its Athletic Program "Credit News 24"
Clemson University, Founders Federal Credit Union (Fort Mill, SC) and JMI Sports announced a comprehensive seven-year partnership that expan...
Consumer Credit at CUs Grew at a Slower Pace in August "Credit News 24"
The Federal Reserve reported that outstanding consumer credit at credit unions edged higher in August. Consumer credit increased from $411.7...
Bethpage FCU Provides $20 Million Loan for Staten Island Shopping Center "Credit News 24"
Bethpage Federal Credit Union provided $20 million refinancing loan to Staten Island Expressway Plaza shopping center. The loan is for seven...
Portions of Vast Community Charter Did Not Meet the Standard of Being Local in 2004 "Credit News 24"
The National Credit Union Administration (NCUA) in August approved a community charter for Utah Community FCU (Provo, UT) comprised of a Com...
Bill Would Exclude Business Loans to Vets from MBL Cap "Credit News 24"
Legislation (H.R. 3866) was introduced on September 28 to amend the Federal Credit Union Act by excluding extensions of credit made to veter...
Trade Groups Sue CFPB over Arbitration Rule "Credit News 24"
The American Bankers Association, the U.S. Chamber of Commerce, the Consumer Bankers Association, the Financial Services Roundtable and seve...
Republican Framework Will Seek to Modernize Special Tax Treatment of Certain Industries "Credit News 24"
The Republican framework for tax reform will look to modernize special tax regimes that govern the tax treatment of certain industries and s...
Shreveport FCU Closed, Members and Most Shares and Loans Assumed by Red River Employees FCU "Credit News 24"
The National Credit Union Administration on October 2 liquidated Shreveport Federal Credit Union of Shreveport, Louisiana. Red River Employe...
Arbitration Rule Could Raise the Cost of Credit by 25 Percent "Credit News 24"
A study by the Office of the Comptroller of the Currency (OCC) found that the Consumer Financial Protection Bureau’s arbitration rule is lik...
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