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Credit unions could fill "a small piece" of the business lending gap that has been created by the recent bankruptcy filing of CIT Group, CUNA President/CEO Dan Mica said in an appearance on Bloomberg TV. And he stressed credit unions could do even more "if we're just given a little leeway by Congress." Check to add this story to your list
The National Credit Union Administration will respond with a letter this week to Rep. Barney Frank's (D-Mass.) request that federal regulators "show some temperance" during their examinations of financial institutions, NCUA Director of Public and Congressional Affairs John McKechnie told News Now Friday. Check to add this story to your list
Credit unions that had losses from the sudden closure of Wisconsin-based Central States Mortgage and Milwaukee-based CU Fleet auto dealership have made an agreement that gives them control of as much as $82 million combined funds in the receiverships. Check to add this story to your list
Newsweek and Good Morning America recently carried stories highlighting credit unions' services to their members. Check to add this story to your list
Overall consumer credit decreased 6% during third-quarter 2009, to $2.455 trillion, according to statistics released Friday by the Federal Reserve. Credit unions were a bright spot in the report, with increases in both revolving and nonrevolving credit while commercial banks and finance companies experienced drops in loans. Check to add this story to your list
Wisconsin credit unions are the first in the nation to offer a certificate of deposit that could lead to up to $3,000 in state tax deductions per child per year for individual contributors, regardless of income. Check to add this story to your list
An $8,000 federal tax credit to help buyers on the purchase of their first home has been extended until April, and lenders in Vermont, including a credit union, said the tax credit is helping them make more loans. Check to add this story to your list
CUNA Mutual Group has closed on its purchase agreement with Producers Ag Insurance Group to become sole owner of the crop insurer. Check to add this story to your list
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Student CU Connect CUSO LLC reported that more than 5,400 students have received $40 million in loans to finance their education through a partnership between Student CU Connect and ITT Technical Institutes, a technology post-secondary education program. Check to add this story to your list
The Virginia Credit Union League reported a record of 24 awards in this year's social responsibility contests, which recognize credit unions' commitment to their community, the "people helping people" credit union philosophy, and youth financial education. Check to add this story to your list
An amended complaint in a class action lawsuit filed against a Florida credit union over fraudulent investment losses perpetrated by a now-defunct broker dealer has removed from the case four individuals originally cited as defendants. Check to add this story to your list
Judy Tharp, president/CEO of Piedmont Advantage CU, Winston-Salem, N.C., has been elected to the Carolinas Credit Union Foundation board, which also elected its officers. Check to add this story to your list
With the gap between the average annual cost of attending a four-year public university ($14,333) and the average annual amount of financial aid ($8,896) topping $5,400 a year, help from family members is becoming increasingly important. In fact, 65% of grandparents told the College Savings Foundation that they intend to chip in for their grandchildren's higher education. Check to add this story to your list
Copyright © 2009 - Credit Union National Association, Inc.