The NCUA approved 24 mergers in August, the highest number of consolidations in one month so far this year. In July, the federal agency approved only 11 mergers. Five credit unions were approved to merge because of their poor financial condition, and two because of...
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?
Republican Plan Still Leaves Credit Union Tax Exemption At Risk
The Republican tax reform blueprint released Wednesday does not specify how tax cuts in the plan would be paid for, so credit unions that are carefully guarding their tax exemption aren’t out of the woods yet. The plan would cut taxes for businesses, the middle...
Phishing Attacks Against Financial Orgs Doubles in One Quarter
The volume of phishing attacks targeting the financial industry nearly doubled in the second quarter of this year and is the largest quarterly volume Charleston, S.C. firm PhishLabs has ever observed In its Q2 2017 Phishing Trends and Intelligence Report PhishLabs...
Former CU Office Manager Faces Sentencing
A former credit union office manager will be sentenced in December after she admitted to embezzling nearly $180,000 from a failed New York credit union. Norma Gold, 57, of Eldred, Pa., pleaded guilty to false entries in federal credit union reports, last week in U.S....
Puerto Rico CU Updates ‘Virtually Impossible’ After Hurricane Maria
After nearly one week since Hurricane Maria raked its way across Puerto Rico, credit union organizations on the mainland continue to have problems receiving updates from the island. According to an email conversation sent to CU Times between WOCCU officials and...
Trio Pleads Guilty To Multistate ATM Theft Spree
Three Massachusetts men pleaded guilty last week to orchestrating a sophisticated multistate ATM robbery spree, netting them $500,000, including more than $170,000 stolen from a credit union ATM. David Barker, 39, Efrain Montero, 41, and Jonathan Santos, 35, of...