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NEW YORK - It didn't take William Porter more than a minute to realize changes were needed at Municipal Credit Union when he became CEO in 1981. As he walked off an elevator and into the hallway outside the credit union's only branch, located in a municipal building, he encountered...

MADISON, Wis.-April's economic data from CUNA shows the seasonal tendencies of credit union balance sheets. The loan-to-savings ratio was up to 68% in April from 67.4% in March, according to CUNA's monthly estimates. CUNA Economist Mike Schenk told Credit Union Times, even though savings grew a little slower than anticipated...

MOSINEE, Wis. - The payment processing industry as financial institutions have come to know it will be radically altered by the Check Clearing for the 21st Century Act, also known as Check 21. Wausau Financial Systems has examined some of the implications of the legislation in a 29-page white paper...

CHARLESTON, W. Va. - Insurance Commissioner Jane Cline hopes that lawmakers here will give her office the power to prosecute on insurance fraud. Although over one-third of the 913 fires investigated by the fire marshal's office in the past nine months were considered fraud related. Cline says her office lacks...

WASHINGTON - The Federal Reserve Board is making plans to conduct another survey on the volume of paper checks being written annually. The new survey would be a follow-up study to the one released by the Fed in 2002 which was a revised Retail Payments Research Project Report to one...

ARLINGTON, Va.-Nationwide Federal Credit Union (Columbus, Ohio) President and CEO Paula Edwards was elected to NAFCU's board late last month, slipping into the seat currently occupied by NAFCU Chairman Jim Mills. Mills, president and CEO of Three Rivers FCU, announced earlier this year that he did not intend to run...

AUSTIN, Texas - Texans are one step closer to gaining access to home equity loans. Consumers will vote September 13 on a constitutional amendment that would reform the state's home equity legislation originally enacted in 1998. SJR 42 and accompanying bill SB 1067, authored by Senator John Carona (R-16), were...

CORVALLIS, Ore. - A familiar face is back in the credit union tech realm. Terry Treadwell has joined Summit Information Systems, a Fiserv data processing subsidiary, as its Director of Market Strategies. Treadwell became well-known in the CU tech scene as a co-founder of CUES Tech Port and former Managing...