When solving a problem or working toward a goal, going the direct route can actually be more complicated and less successful than taking a more circuitous route.

The financial statements of the NCUAs four main funds are presented fairly, but there are serious difficulties in the agencys financial accounting, according to an independent audit released on May 16.

Although government work isn’t always lucrative, 25 NCUA employees make more than $201,000 annually, according to agency records.

The $3.1 billion Space Coast Credit Union has filed a suit against two investment firms over the alleged misrepresentation of a collateralized debt obligation that the cooperative said led to financial losses.

More than a year after St. Paul Croatian Federal Credit Union was conserved and liquidated because of losses from fraud, there have been indictments, federal and international investigations and money hunts, and a lawsuit against the NCUA.

ALEXANDRIA, Va. — Credit unions could prepay between $10,000 and 36 basis points of insured shares toward their assessments to pay the costs of the rescue of corporate credit unions under a proposal announced at the May 19 NCUA board meeting.

PATRIOT Act debate likely to dominate calendar, followed by Senate recess.

Thursday session will lay out details of plan to allow credit unions to prepay into the Temporary Corporate Credit Union Stabilization Fund.