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NORTHVILLE, Mich. - It's happened again. Add Michigan to the growing list of states that have enacted legislation providing a mechanism for state-chartered credit unions to convert to mutual thrifts. Less than two weeks after the Rhode Island state legislature passed similar legislation (CU Times, July 25), the Michigan House...

RALEIGH, N.C. - Jim Blaine, president/CEO of $6 billion-State Employees Credit Union of North Carolina is not daunted by NCUA's decision to not count as net worth a $1 million capital equity share investment from Self-Help Credit Union. He intends to continue to defend his position that federally-insured credit unions...

WASHINGTON-The House Financial Services Subcommittee on Financial Institutions, chaired by Rep. Spencer Bachus (R-Ala.), held a hearing July 24 on legislation aimed at curbing Internet gambling. Bear Stearns released a report in March estimating that $5 billion will be spent each year on Internet gambling by 2003. American consumers constitute...

WEST PALM BEACH, Fla. - When it comes to shopping online, consumers want security. So far there have been three standard solutions to the online secure-shopping dilemma: single-use credit card numbers that generate a unique credit card number for each online purchase; credit card locks, which require consumers to call...

First Teachers Federal Credit Union, Schenectady, N.Y., has named Christine Perlee business development officer. Maine Credit Union League, Westbrook, has named Mark Jackson director of education Dutch Point Credit Union, Wethersfield, Conn., has promoted Pauline Davis to chief operations officer; Amy Mitchell to call center supervisor; and Stephen Raney to...

WASHINGTON - Corporate credit unions are benefiting from the influx of shares at America's CUs. At the end of March, corporate assets reached $59.8 million, an all-time high. From a year ago March, six more corporates have reached the billion dollar mark, for a total of 14 such corporates. The...

WASHINGTON-Former NAFCU President and CEO Ken Robinson is recovering at a Washington-area hospital after undergoing quadruple bypass surgery. While Robinson never experienced a heart attack, the blockage was discovered during a routine stress test. The 72-year-old retired Marine major general's recovery is being described as "excellent" by NAFCU staff. He...

ALEXANDRIA, Va.-NCUA's Office of Credit Union Development (OCUD) recently released its report on the programs for small and low-income credit unions and their activity. OCUD administers the Small Credit Union Program (SCUP) and the Low-Income Designation Program, with a focus on safety and soundness, guidance, and facilitating expansion of credit...