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ALEXANDRIA, Va.-NCUA Associate General Counsel Sheila Albin wrote in a recent legal opinion letter that federal credit unions may adopt overdraft policies allowing for different coverage levels for different members. She said the agency had no legal problems with such a program, so long as the credit union's policy caps...

ARLINGTON-An independent survey firm found that NAFCU members place a high value on their membership in the trade association, according to a survey sponsored by NAFCU. The survey, conducted by Schmidt Consulting Services of Pittsburgh, revealed that 84% of NAFCU-member CEOs said the overall value for dues paid was "outstanding"...

WASHINGTON-Lafayette Federal Credit Union Board Member Michael Hearne represented CUNA last week during a roundtable discussion set up by the Senate Small Business Committee and its chair, Senator Olympia Snowe (R-Maine) regarding the Small Business Administration's 7(a) loan program. No official statements were provided during the roundtable to promote candid...

ALBANY, N.Y. - Gov. George Pataki announced April 25 he plans to nominate Diana Taylor for Superintendent of the New York State Banking Department. Taylor would succeed Elizabeth McCaul who resigned in March after serving in the position since 1995, and interim Acting Superintendent Barbara Kent. Taylor currently serves as...

WASHINGTON-In the time between the congressional spring recess that recently ended and the Memorial Day recess at the end of May, Congress is expected to consider several issues affecting credit unions and other financial institutions. CUNA Vice President of Legislative Affairs and Senior Legislative Counsel Gary Kohn said that he...

MINNEAPOLIS - After the media storm surrounding Northwest Airlines' plans to evict NWA Federal Credit Union from its properties, the airline sent out an expanded statement on April 29 detailing why it felt it had to proceed with the non-renewal of leases. On its Web site, NWA FCU responded to...

I agree 100% with Mike Welch's position regarding overdraft programs that he elaborated on in his April 9th column, "Putting a Little Bounce in Checking Accounts." Tower Federal implemented such a program in the past six months but only after much debate and research. In the end we believed honoring...

HOUSTON - Communicators Federal Credit Union is riding into the future with a new name -PrimeWay Federal Credit Union. Faced with a growing and more diverse membership, the 65-year old $176 million credit union became the latest player in the increasingly popular name change game. "Of course we had some...