News

COLUMBIA, S.C. - Think your credit union's safe and secure, hiding all that confidential data and crucial functionality behind the latest and greatest in firewalls? Think again. "The lesson of the Code Red worm is that firewalls didn't prevent it, period. That's the issue," says Chuck Welsh, president of NetBankAudit...

Until now, credit unions have taken baby steps in socially responsible investing. Still industry watchers say that despite the beating mutual funds have taken over the past year, SRI is on the upswing, and credit unions may be the next group it attracts. What are SRIs and what is their...

CAPE TOWN, South Africa - It's been a busy year for the Savings and Cooperative League of South Africa (SACCOL). Over the past six months 11 applications for membership have been received and seven have been accepted. SACCOL believes this is a great achievement by their members in financially empowering...

JEFFERSON CITY, Mo. - The state Credit Union Commission at a meeting Aug. 9 issued a written decision supporting its May 24 rejection of an appeal filed by the Missouri Bankers Commission on a ruling by the director of the state Department of Credit Unions granting a 3,000-member expansion exemption...

LEEDS, U.K. - Sue Davenport, chief executive of Leeds City Credit Union has received the United Kingdom's Co-operative Council's Grassroots Co-Operators Award. She is only the second recipient ever of the award. Davenport was nominated for the award by the Yorkshire Chapter of Credit Unions, which praised her "seemingly inexhaustible...

TRENTON, N.J. - The state Department of Banking has released its third edition of the "Consumer Guide to Bank and Credit Union Fees," and the results show that credit unions once again compare favorably to bank in several categories. Among the findings, credit unions reported lower transaction fees for ATMs,...

GDANSK, Poland - Two Polish credit unions have responded to help members whose lives have been torn apart by recent flooding. Over 600 people were recently made homeless and five people died when torrential rains caused two rivers in Radunia and Strzy and a number of local streams to overflow....

STAMFORD, Ct. - Stamford Municipal Employees FCU was approved by the state Department of Banking to convert to a state charter. The credit union will be known as Stamford Credit Union. It is the first federal-to-state charter conversion to be approved by the Department of Banking since the former Sikorsky...