The New York Credit Union Foundation raised $10,000 from a testimonial dinner for Vicky Matteson, outgoing chair of the New York Credit Union League, the Foundation has announced. More than 70 credit union executives and supporters attended the dinner, which was held at a restaurant in the Albany area.

In what might seem a quixotic gesture of optimism, the $1.4 billion HarborOne Credit Union has not turned first to lawyers or to litigation to recover money it said it lost in a recent card security breach. It has sent the retailer that caused the breach a bill--for $590,000.

With their constituents complaints about credit card practices ringing in their ears lawmakers on the House Financial Services Committee from both sides of the aisle signaled their displeasure with many current credit card management practices and a willingness to regulate them further.

Four more credit unions have sold their credit card portfolios to TNB Card Services, the card portfolio purchasing and servicing arm of credit union-owned Town North Bank. TNB Card Services now owns and manages the card portfolios of more than 125 credit unions, the firm said.

Underbanked and lower income consumers and communities want convenience and low prices just like mainstream consumers do, but a recent study found that they also want intangible things like greater trust and a personal connection that credit unions may be better positioned to offer.

As the credit union industry begins to self-consciously turn more toward serving lower income communities, the National Federation of Community Development Credit Unions is urging NCUA to make sure it makes practical changes to help it do so.

The $1.6 billion Redwood Credit Union has been posting strong numbers to its credit card portfolio for three years running now. The credit union, which processes its card transactions with PSCU Financial Services, had 23% growth in its outstanding card balances in 2005, 28% in 2006 and appears set to...

Even though he is just now retiring from being CEO of the $52 million Alternative Federal Credit Union, headquartered in Rochester, N.Y, Bill Myers already seems poised to hit the ground running as one of the new Field Coaches with the National Credit Union Foundation's Real Solutions program.