News

Corporates advocated for a grandfathering clause to issue Paid-in-Capital in Part 704. They got their wish, with the NCUA Board instituting an 18-month window for them to issue PIC. As the chart here shows, less than half of all corporates have yet to issue PIC. Here's a breakdown of those...

DULUTH, Ga. - Who says corporate cooperation is dead? Georgia Central Credit Union and First Carolina Corporate Credit Union recently participated in the joint Georgia/South Carolina League Volunteer and Management Institute Conference on October 24-28th in Hilton Head Island, S.C. The corporates, which have distinct fields of membership, worked together...

MADISON, Wis. - CUNA Mutual has formed a marketing agreement with Corporate Network Brokerage Services (CNBS) for CNBS to offer CUNA Mutual's Notes program, an investment offering for corporate credit unions. CUNA Mutual Notes was first unveiled in Oct. 2000 at an Association of Corporate Credit Unions meeting. The product...

LENEXA, Kansas -U.S. Central reported net income of $16.1 million as of Sept. 30, 2002, up from $14 million for the same period last year. Looking year-to-date, net income is $50.2 million, up $9.5 million from last year. Average interest-earning assets as of Sept. 30 were $31.8 billion, up 10.3%...

ALBANY, N.Y. -Credit unions are going to get some good national publicity on Nov. 26. Empire Corporate FCU was recently selected by Pat Summerall Productions to be part of its "Champions of Industry" paid program television presentation on financial institutions. It will air on Nov. 26 at 7:00 a.m. Eastern...

ARVADA, Colo. - With 10-month old twin boys and a second corporate merger just closing, good things have been coming in two's for Eric Kenealy. Kenealy took over the top spot at the $2 billion SunCorp Corporate CU in mid-2000. Fast-forward two and a half years later and it looks...

To tie into the California CU League Annual Meeting being held this week, this issue features in-depth stories on two long-time California leaders, Ed Callahan and Dave Chatfield. Learn more about their careers and personal lives on pages 26-27 and 32-33.

VICTORIA, Australia - With the goal of achieving greater economies of scale, Members Australia Credit Union (MACU), a 45-year old credit union, is in the process of merging with Education Credit Union (ECU). ECU was established 29 years ago. If the expected merger goes through, the combined credit unions will...