August 19, 2008

No support for NCUA 'underserved' plan, says CUNA

Washington

CUNA does not support an NCUA proposal that would dramatically alter the current federal regulatory process for approving multiple group credit unions' applications to serve underserved areas.

Education bill with CUNA-sought changes signed into law

Washington

President George W. Bush last week signed the Higher Education Opportunity Act into law. The new law includes two changes sought by CUNA during the legislative process.

PULSE study: Surcharge-free access on the rise

CU/System

Surcharge-free ATM access is becoming more popular among debit card issuers, according to the PULSE 2008 Debit Issuer Study.

Bloomberg: CU credit quality relatively good

Market

Asked about stress on credit union balance sheets resulting from today's economy and mortgage market, CUNA Chief Economist Bill Hampel told Bloomberg Television yesterday credit unions "tend to be fairly conservative in their lending" but some credit unions, especially those in areas hardest by the downturn in the housing market, have seen some deterioration in credit quality.

CUs make most of their soundness in media

CU/System

Credit unions continue to make the most of the opportunity from banks' failures to explain their soundness for the media.

Florida CUs prepared for Fay

CU/System

As Tropical Storm Fay drenched southwestern Florida Monday with 60 mph winds as of 5 p.m. EDT, credit unions all along the way were preparing for a possible hurricane.