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WASHINGTON-Congressman Paul Kanjorski (D-Pa.), one of the original sponsors of H.R. 1151, typically favors credit union issues, but bankruptcy reform is not one of them. In fact, after his work with the credit unions, he has trouble getting the attention of the banking community, Kanjorski jested. The congressman said, "It's...

YONKERS, N.Y. - Some 44 million workers in the United States have an additional asset to their "shrinking" 401(k) retirement accounts - a defined benefit pension plan, according to a recent Consumer Reports survey/article. In contrast to the 401(k), the defined benefit plan is the sole responsibility of the employer....

ST. LOUIS - Nextstar Financial Corp., a provider of mortgage outsourcing solutions to banks, credit unions and other financials, together with Bear Stearns Credit Union Financial Services (CUFS), have developed a mortgage program - CUMACT Powered by Nexstar - for large credit unions that are involved with mortgage lending and...

WASHINGTON-At NAFCU's Congressional Caucus last week, Congressman George Gekas (R-Pa.), author of the bankruptcy abuse reform bill in the House, urged credit unions to continue their "full court press" lobbying efforts on behalf of the seemingly star-crossed legislation. Gekas is facing a tight race in his congressional district and the...

MARLBOROUGH, Mass. - Digital Federal Credit Union members now have access to a newly formed agency, DCU Financial Insurance Services. DCU has hired Springfield, Massachusetts-based Bank Insurance Service to provide turnkey insurance agency solutions to its subsidiary DCU Financial. "This is a significant partnership for DCU Financial," said Ed Crisci,...

Banking industry lobbyists are a creative lot. They find a way to oppose virtually everything credit unions do. The only thing that would get bank trade group executives off the backs of credit unions would be the disappearance of credit unions from the American landscape. On the other hand, credit...

FORT KNOX, Ky. - Combining targeted marketing and employee incentives, Fort Knox Federal Credit Union is proving members will easily forgo mail for electronic statements, with yearly savings for the credit union on processing and postage expected to reach $100,000. That's the view of the CU's president and CEO, William...

Looking back eight years ago finds credit unions' community involvement questioned at a House subcommittee hearing. CUNA and NAFCU argued the need for credit unions to have a CRA-exemption. Lobbyists in Washington questioned whether the no-room-for-negotiations strategy employed by both CUNA and NAFCU would work. "I don't understand it," said...