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President Bush Signs SBA Funding Legislation; Raises SBA Lending Authority

Staff Writer | April 13, 2004

WASHINGTON-President George W. Bush has signed into law a bill boosting the Small Business Administration's lending authority for the remainder of the 2004 fiscal year. "The President's action today will allow the SBA and small businesses the opportunity to get down to the business of financing growth and creating jobs...

Blaine Deserves Our Applause, Not Criticisms

Staff Writer | April 13, 2004

I want, and in fact must, take issue with the embarassingly "bank-friendly" letters which your March 24th and 31st issues ran. Who the hell are these credit union executives who "rail" against the truth? I noticed not one opinion from a credit union volunteer. All the paid executives apparently felt...

And the Winner Is.

Staff Writer | April 13, 2004

More than 8,000 well-trained, dedicated runners braved less than desirable weather April 4 to run in the 32nd annual Credit Union Cherry Blossom 10-Mile Run. NAFCU Chairman Diane Furnas (left), president/CEO, Southwest Airlines FCU, and CUNA Chair Dick Ensweiler, CEO of the Texas Credit Union League, held the tape for...

800,000 Card Accounts Hit in First Data Computer Glitch

Staff Writer | April 13, 2004

DENVER - Over 800,000 MasterCard and VISA transactions at Wal-Mart stores on March 31 were double and triple charged due to a computer error at the card processor. First Data Corporation processes card transaction for at least 500 credit unions who are members of the PSCU Financial Services Cooperative, along...

News

Convenience Checks, Credit Cards Boost Spokane Teachers' Bottom Line

Staff Writer | April 13, 2004

SPOKANE, Wash. - Convenience checks are proving extremely convenient not only for members of Spokane Teachers Credit Union, but for the financial institution as well. While members can now take advantage of a zero percent interest rate for six months - using the checks to consolidate balances or to make...

Callahan Chronicles Billion-Dollar Club in New Directory

Staff Writer | April 13, 2004

WASHINGTON - Callahan & Associates this week announced the launch of what it calls the industry's first publication dedicated to tracking the financial performance of billion-dollar credit unions. There are 83 credit unions with $1 billion or more in assets, including 11 that crossed that threshold in the past year,...

Alternatives FCU Living Wage Used to Urge New York to Raise Minimum Wage

Staff Writer | April 13, 2004

ITHACA, N.Y. - More than 150 supporters marched through the streets of Ithaca last weekend in support of raising the state's minimum wage using statistics from the Alternatives Federal Credit Union's living wage study. The New York State legislature is considering a bill that could increase the minimum wage to...

CUNA Mutual Concludes Contract Negotiations; Union Set to Vote

Staff Writer | April 13, 2004

MADISON, Wis. - CUNA Mutual Group has made its "last, best, and final offer" to its employees who are members of the Office and Professional Employees International Union Local 39, and union members will have the chance to vote on the company's proposal starting April 14 after an informational meeting...

Bank of America Moves Forward With 12,500 Job Cuts in April

Staff Writer | April 13, 2004

CHARLOTTE, N.C. - In a move that officials say is expected to save Bank of America Corp. $650 million, the company announced yesterday it will cut 12,500 jobs over the next two years with the first round of layoffs occurring this month. The news comes on the heels of Bank...

U.S. Central Will Honor ACH Losses

Staff Writer | April 13, 2004

LENEXA, Kan. - U.S. Central says it will make whole any corporate or individual credit union which might have suffered a loss, or had a member suffer a loss, due to a malfunction in the processing of ACH transactions, according to Roger Dick, director of communications for the corporate credit...