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MADISON, Wis.-In response to continuing drops in interest rates, the National Credit Union Foundation (NCUF) has revised the distribution formula for the Community Investment Fund (CIF). The continued drop makes it so credit unions' charitable intent by participating in CIF was not recognized under the old formula. Under changes adopted...

JERSEY CITY, N.J. - As many insurance industry experts speculated, already the September 11 terrorist attacks are the most expensive tragedy ever for insurers. A recently released Insurance Services Office report finds that property and business interruption insurance claims have already reached $16.6 billion-and are still climbing. The report, from...

WASHINGTON - When Congressional FCU was forced to temporarily close its four branches on Capitol Hill, with no prior notice due the anthrax attacks, the Credit Union Family Service Centers Shared Branching Network helped the credit union offer members several service locations. With over 25 locations in Virginia, Maryland and...

EL PASO, Texas - Home buyers in El Paso and Dona Ana counties who otherwise would be turned down for conventional mortgage financing because of a lack of credit or past credit problems are finding financing assistance these days at Fort Bliss FCU. The $318 million credit union is participating...

MADISON, Wis.-The Credit Union Executives Society has named Motorola Employees Credit Union President/CEO John C. Fiore the 2001 CUES Executive of the Year. Fiore was presented the honor by last year's winner, retired USA FCU president/CEO Dorothy Nouhan, during a special awards banquet at the CUES' CEO Network held in...

SRP Credit Union, Phoenix, has named Harry M. Mateer Jr. chief financial officer. Northwest Corporate Credit Union. Portland, Ore., has promoted Dan Abdill to investment sales representative. SAC Federal Credit Union, Omaha, Neb., has appointed the following officers to its board: Paul E. Norton, chairman; Linda F. Barnes, first vice...

Looking back nine years ago finds California credit unions unhappy with the California Franchise Tax Board ruling that state-chartered credit unions must pay the equivalent of a 7% gross income tax retroactive to 1988. However, California League Senior Vice President Laura Porter urged credit unions not to overreact. "I think...

UTICA, Mich. - Little-known InetSolution, Inc., recently completed a Symitar middleware piece for its CU MemberProtect security solution. InetSolution is an IT development firm focused solely on the CU market. "Credit unions are our vertical. Primarily we partner with the more progressive credit unions that have a strong emphasis on...