CO-OP Financial Services has acquired the Des Moines, Iowa-based payments processor TMG in a $100 million all-cash deal and has restructured its management team, according to an announcement today. The Rancho Cucamonga, Calif.-based CUSO has been a minority owner in...
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?
Financial Literacy Lessons From TFCU
When you have a credit union named Teachers Federal Credit Union, National Financial Literacy Month is a big deal. And the significance is not lost on its leadership. Robert Allen, president and CEO of TFCU, said there's a long history of financial education for...
NCUA Liquidates Financially-Troubled Michigan Credit Union
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 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...