The $320 million Lafayette Federal Credit Union convinced the barest majority of its members to vote to support its proposed charter change, according to data Lafayette has supplied the NCUA.

In a development that surprised many credit union observers, a majority of the members of the $332 million Lafayette Federal Credit Union who participated in the credit union's charter change vote appear to have cast ballots in favor of becoming a bank. A short statement from the credit union, which...

New York City Mayor Michael Bloomberg chose the $19 million Lower East Side People's Federal Credit Union as the venue to announce a major new anti-poverty initiative that is expected to generate $150 million to fund the recommendations of the Commission for Economic Opportunity.

This year saw credit union institutions dedicated to helping lower income members and unbanked communities make innovations and change the way they did business to bring more depth to their efforts.

With less than a week left before the special meeting at which the members of the $331 million Lafayette Federal Credit Union will discuss and finish voting on their potential charter change, controversy continued to dog the issue.

Since this year's final data will not be available until early 2007, it's impossible to tell precisely how many credit unions sold their card portfolios to agent issuing partners in 2006.

Payday lenders have started fighting back against a report that, they charge, falsely puts their industry in a bad light.

This year may be remembered as the year that two groups of credit unions, CUSOs, associations and vendors got together to try to launch industrial loan corporations which, it was hoped, would purchase card portfolios and give CUs a way to participate in the credit card industry other than by...