CUNA has made good on its promise to go after Equifax over the credit-rating bureau’s recent data breach. On Wednesday, the credit union industry trade association filed a class-action lawsuit in a Georgia District Court against Equifax, alleging that...
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?
2.1% Proposed Boost in NCUA 2018 Operating Budget
The NCUA on Friday released a proposed 2018 operating budget totaling $298.2 million, a $6.1 million boost from the 2017 level. That represents a 2.1% increase from 2017. “The 2018-2019 budget proposal is another step in our broader effort to re-align our...
CU Teller Pleads Guilty to Embezzlement
Former teller Teresa Ann Perkins admitted earlier this week that she embezzled $320,000 from members for nearly 11 years at the $23 Community United Federal Credit Union. She was indicted in June, two months after the NCUA placed the Waycross, Ga.-based credit union...
In Memoriam: Kenneth Holden
Kenneth "Bunky" Holden, one of the first members of the Tewksbury Federal Credit Union and its former CEO, passed away Oct. 3. He was 81. Holden was one of the first 20 members to join the Tewksbury, Mass. credit union in 1960 and became its CEO/treasurer in 1980. He...
Payday Rules Are Better Than Expected: CU Trades
After more than a year of hand wringing, credit union officials said Friday that the CFPB’s payday loan rules will affect credit unions far less than they had feared. "Overall, based on our initial analysis and a conversation between Director Cordray and NAFCU...
The ‘Secret Weapon’ for Hiring & Keeping Employees
The U.S. economy is improving and unemployment rates are nearly back to pre-recession levels. This economic upswing has intensified an already competitive labor market where job vacancies and the inability to hire quickly can have negative business...