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?

NCUA Draft 2027-2028 Budget

AGENCY: National Credit Union Administration (NCUA) SUMMARY: NCUA's draft “detailed business-type budget” is being made available for public review as required by federal statute. The proposed resources will finance the agency's annual operations and capital projects,...

Conversion to State-Chartered Credit Union

AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) solicits public comment on a proposal to remove a regulatory provision regarding the process for maintaining federal share insurance following the conversion of a federal credit union...

Nonconforming Investment Special Reserve

( printed page 66532) AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) is proposing to amend its regulations governing the requirements for federal share insurance. This action would remove the requirement for federally insured,...

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...

Federal Judge Approves Home Depot Data Breach Settlement

U.S. District Judge Thomas Thrash on Friday approved a settlement between Home Depot and financial institutions, including credit unions, in a suit filed in the wake of a 2014 data breach at the retailer. Several state credit union leagues and CUNA were plaintiffs in...

Summit Credit Union Files Class-Action Suit Against Equifax

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...

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...