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WILMINGTON, Del. - MBNA Corp., a leading purchaser of credit union card portfolios and a specialist in affinity group card marketing, has purchased an estimated $50 million in affinity card portfolios from the Royal Bank of Canada, based in Toronto, Canada, according to media sources. The purchase adds 40 new...

MADISON, Wis. - Wisconsin has a new secretary of the Department of Financial Institutions. Lorrie Keating Heinemann, a former banker and investment adviser, was appointed by Gov. Jim Doyle to the post, which regulates credit unions, banks, securities and other business services. She succeeds John Kundert who retired earlier this...

WASHINGTON-Credit unions still prove they are a better deal than banks. Bank and savings association fees generally are continuing their upward climb and more banks are charging fees for services, according to the Federal Reserve's Annual Report to the Congress on Retail Fees and Services of Depository Institutions, which surveyed...

WASHINGTON -NAFCU has held three awards program that produced 22 winners among member-credit unions, including six winners in the Annual Awards Competition honoring the Professionals of the Year, Volunteers of the Year and Federal Credit Unions of the Year in two credit union asset-size categories (less than $150 million and...

HOUSTON - S&S Credit Union is turning its main office into a shared branching outlet in hopes of recouping a portion of the up to $3,000 in monthly expenses the credit union is spending on its members' use of shared branching facilities all over the country. In becoming a shared...

MOORPARK, Calif. - XP Systems said about 750 people from credit unions and 25 business partners attended its 2003 Regional Technology Forums in San Antonio and Tucson, Ariz., a record number. Previews and work sessions on expanded products and services accompanying the core processor's XP2 system were highlighted, including new...

MANCHESTER, N.H. - St. Mary's Bank and Nashua, New Hampshire-based The Sadler Insurance Agency have teamed up to offer low-cost insurance products. As part of the alliance, The Sadler Insurance Agency's personal, property, casualty and commercial insurance products will be made available to members at the credit union's branches, via...

EAST CHICAGO, Ind. - After 16 negotiating sessions, Inland Employees Federal Credit Union and the United Steelworkers of America Local 2003-21 have reached another more vocal stalemate. At press time, union employees planned to rally in front of the credit union's headquarters here. At issue are the health insurance premiums...