Madison, Wis.-based Summit Credit Union has filed a class-action lawsuit against Equifax on behalf of credit unions for damages related to the credit-reporting agency’s giant data breach disclosed earlier this month. The suit claims Equifax failed to secure its...
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?
First CU Communication Coming From Decimated Puerto Rico
JetStream FCU branch in Carolina, Puerto Rico. Image taken Friday, Sept. 22, 2017 Jeanne Kucey, president/CEO of the $196 million JetStream Federal Credit Union released the following statement to CU Times regarding the status of their Carolina, Puerto Rico branch...
Former CEO Pleads Guilty to Embezzlement
Christine Darley, former president/CEO of a merged Nebraska credit union, will be sentenced in December after she pleaded guilty to a felony count of bank fraud Thursday in U.S. District Court in Lincoln. In exchange for her guilty plea, prosecutors dropped five bank...
Millennials Open to Non-Traditional Banking but Still Visiting Branches: Fiserv
Millennials are more likely to manage their finances through social media, as well as payment and fintech companies, but have not given up on branches any more than other generations. Those are some of the findings from the latest Fiserv Expectations & Experience...
San Diego County CU Inks $500,000 Naming Rights Deal
The $8.1 billion San Diego County Credit Union will pay $500,000 for the naming rights of a 50-year-old stadium through the end of 2018. San Diego City Council approved the deal Tuesday. The city of San Diego will receive $375,000 and $125,000 will be paid as a...
Court Ruling Allows CU Trade Secrets Lawsuit to Move Forward
A Florida federal judge ruled last month that the $2.3 billion Grow Financial Federal Credit Union has alleged sufficient facts to pursue a lawsuit that the $1.8 billion GTE Financial Federal Credit Union and an employee allegedly misappropriated Grow’s trade...