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ALEXANDRIA, Va.-NCUA issued a Letter to Credit Unions (03-CU-11) last week to help credit unions manage risk associated with non-maturity shares. The agency emphasized that it merely wants to create a best practices framework to guide credit unions, and not micromanage. "Understanding the behavior of non-maturity shares is integral to...

TALLAHASSEE, Fla. - Credit Union 24, the second largest credit union owned ATM network in the U.S., has announced a patronage dividend for 2002 transactions of $2.3 million. This more than doubles last year's patronage of $1 million, which covered transactions taking place in 2001, and lifts the organization's total...

State Center Credit Union, Fresno, Calif., has recently opened a new Clovis branch. The full-service, state-of-the-art facility has been designed to offer members more convenience. Harborstone Credit Union, Tacoma, Wash., has broken ground on a new financial service center. The 5,120 square-foot building is scheduled to open in November and...

WARRENVILLE, Ill. - Corporates lobbied NCUA to grandfather in and extend the time period to be able to offer Paid in Capital and they are taking advantage of it. The $4.5 billion Mid-States Corporate FCU's PIC offering reached $69 million. More than $16 million in new capital was generated and...

ALEXANDRIA, Va.-In a brief board meeting of the NCUA, the agency announced that it had cut its 2003 budget by 2.31%. According to NCUA's Board Action Memorandum, the agency's total operating costs for 2003 were going to be pared down by nearly $3.4 million or 2.31%. Much of the savings...

I have been intrigued by the recent press about large issuers offering to buy card portfolios at handsome premiums. We've all been stung by the downturn in the economy, increased competition from the large issuers, and rising delinquencies. I can definitely see how a cash infusion could be useful at...

WASHINGTON - Two of the industry's leading trade groups, CUNA and NAFCU, are planning to intervene on behalf of the NCUA against the July 15 Utah field of membership suit brought by the American Bankers Association. "We're still working the issues, but the leadership of CUNA and NAFCU are committed...

Thanks for publishing Lecia Roundtree's well-written opinion article on outsourcing in the July 16th issue ("Increasing Human Resource Efficiencies Through Outsourcing.") In addition to some of the excellent points Roundtree makes, outsourcing is sometimes the only option for small and mid-sized credit unions that need expertise in areas they have...