FAIRFAX, Va. - Federal credit unions converting to state charters because of complex federal regulations have become commonplace in the CU industry. Not so common though is a state-charter CU converting to a federal charter because of the restrictiveness and complexity of state regulations, but that's exactly what's happened in...
Riverside County's Credit Union, Calif., has been recognized as the "Top Company to Work for" in the Inland Empire 2001 Awards ceremony. More than 620 gathered for the first-time event sponsored by the Business Press. The five-judge panel that selected the award winners was comprised of leading business school academics...
WASHINGTON -In a comment letter to Treasury Secretary Paul O'Neill, CUNA offered up its "strongest support" for the proposed review of the compliance burdens associated with the Bank Secrecy Act (BSA) and the regulation promulgated under it. According to CUNA Associate General Counsel Mary Dunn, CUNA has been asking for...
DENVER - Craig Lassen, founder of Internet solutions firm Cavion Technologies, has found that CU roots don't die off easily. Cavion was sold to Liberty earlier this year after it fell on financial hard times, ultimately declaring bankruptcy. Cavion is now alive again as the Liberty Cavion online banking unit....
Pen Air Federal Credit Union, Pensacola, Fla., has hosted its first annual charity golf tournament at the A.C. Read Golf Club to benefit the Navy-Marine Corps Relief Society. Viewed as a huge success, the course was packed with the maximum allowed number of golfers. Prizes included $300 cash for closest...
ALEXANDRIA, Va.-NCUA's June board meeting covered several items that have been typical of the agency's meetings lately, including a community charter conversion and technical amendments to slightly outdated regs. The NCUA Board unanimously approved the conversion of Avon Refinery Federal Credit Union from a multiple-group charter to a community charter...
SCHAUMBURG, Ill.- Zurich North America, a commercial property-casualty, health and accident insurance provider, is offering a new coverage under its Excess & Surplus Group for expenses related to product recalls. The product recall expense coverage is designed for small to mid-sized manufacturers, distributors and retailers of consumer, industrial and commercial...
ALEXANDRIA, Va. - NCUA deployed Region V examiners onsite here last week to three federal credit unions hit by the extensive flooding in Houston and 28 southeastern Texas counties. Many of the areas were declared federal disaster areas after thousands of businesses and homes were damaged or completely destroyed by...
I just finished reading through the May 23 issue of Credit Union Times highlighting corporate credit unions and was pleased to see Credit Union Times' thorough coverage of all that's happening in the corporate credit union network. I was especially taken with your editorial, "Corporates of today justify another look."...
YONKERS, N.Y. - If the pending bankruptcy abuse reform bill that would require those who are considering filing for bankruptcy to seek out debt management counselors passes, it may overwhelm "underfunded" consumer credit counseling agencies, Consumer Reports magazine said in a June 11 audio conference. Last year, an estimated 3...
