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?

Request for Information Regarding Enhancing and Streamlining Data Collection From Credit Unions

AGENCY: National Credit Union Administration. ACTION: Notice; request for information. SUMMARY: The National Credit Union Administration (NCUA) is issuing this request for information (RFI) on opportunities to enhance and streamline NCUA's data collections....

Bank Conversions and Mergers, Subpart C-Merger of Insured Credit Unions Into Banks

( printed page 21391) AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) is proposing to amend its regulations governing the merger of insured credit unions into banks. The Board proposes to eliminate certain prescriptive procedural,...

Sharing is Daring – NACUSO

By Nate AndersonPresident & CEOrekindle The Control Conundrum My local community hosts a Tuesday night “running group.” They run together, then go out for drinks and food afterward. Every week they do this.  I’ve known about this group for over a year and have yet to...

Credit Union Professionals Move Up and On

This past week, six credit unions announced new hires and promotions. Plus, one credit union announced the retirement of its long-time CEO. EAST The $3 billion Service Credit Union in Portsmouth, N.H., promoted two employees. Fawn Terwilliger was promoted to chief...

Former CU Employees Sentenced After Embezzlement Uncovered

A former CEO of a West Virginia credit union who embezzled more than $156,000 over three years was sentenced to one day in jail, while a teller who worked for an Alaskan credit union for few months and stole more than $100,000 will serve one year in federal prison....

6 Tax Season Cybersecurity Risks to Avoid

Tax-related themes are frequent lures for phishing emails and websites. Sunnyvale, Calif.-based Proofpoint revealed cybercriminals expanded their attack methods this tax season to include ransomware, malware, malicious documents, and social engineering. In a blog the...

Consumers Still Struggling to Open Accounts Digitally

Opening a checking account using only a smartphone or tablet is still a pipe dream for most users, according to new research from Javelin Strategy & Research.  According to a study of nearly 1,400 people who successfully applied for checking accounts at the...

NAFCU Calls on Financial Stability Council to Void CFPB Rules

NAFCU is asking the Financial Stability Oversight Council (FSOC) to step in and void new regulations issued by the CFPB. In a letter to Treasury Secretary Steven Mnuchin NAFCU President/CEO B. Dan Berger requested that FSOC use its authority under Dodd-Frank to stay...

Former CEO Faces Felony Charge

A former president/CEO of a merged Nebraska credit union will face a federal judge March 14 on six felony bank fraud charges. According to an indictment filed by federal prosecutors last week, Christine Darley, 44, allegedly embezzled more than $535,000 from the $3...