The financially troubled $19.8 million Valley State Credit Union was liquidated Friday by the Michigan Department of Insurance and Financial Services. The state regulator made the decision to liquidate the Saginaw-based credit union and discontinue its operations...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
Credit Unions Hire, Elect and Mourn
This past week, eight credit unions and CU Members Mortgage announced new hires and board elections. Plus, one credit union mourned the passing of a long-time member and leader. WEST The $16 billion BECU in Tukwila, Wash., hired Melba Bartels as CFO,...
NCUA Bans Former Branch Manager & Loan Officer
The NCUA said Friday it banned a former branch manager and a loan officer. Mireya Guadalupe Gonzalez, who worked as a branch manager for the Sharebuilders Federal Credit Union in Northridge, Calif., was sentenced on Feb. 1, 2012 to 18 months in federal prison for...
Synaps Successfully Tests Blockchain Loan Servicing
Synaps Loans announced that it has created and tested a working blockchain solution for servicing syndicated loans. Synaps is a joint venture between Ipreo, a fintech and analytics provider, and Symbiont, which provides distributed ledger technology for...
WalletHub: Americans Not So Savings Savvy
A study by an online credit score provider warns that Americans are forgetting the lessons of the Great Recession, and piling on record amounts of debt. WalletHub on Wednesday released an index of financial literacy that ranked Louisiana as having the worst levels of...
Trump’s Data Privacy Repeal & Credit Unions: Part 1
Experts weigh in on the House of Representatives and Senate votes to repeal the regulation preventing internet service providers from selling customers’ web browsing and app usage data without consent. President Trump indicated his intention to sign the bill,...