Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU System briefs (01/28/2008)
* NEWPORT NEWS, Va. (1/29/08)--Members and nonmembers of Langley FCU with Hampton Roads, Va., cell phone prefixes were targeted in a text-message phishing scam attempt Friday afternoon (Daily Press Jan. 26). The scam attempted to get recipients to divulge personal financial information on a fake website. The credit union received 100 to 200 phone calls between 3:30 p.m. and 5 p.m. Friday from people who received the messages. The credit union, working with the Federal Bureau of Investigation, shut down the fraudulent site by 5 p.m. Langley emphasized to its 160,000 members to never give out personal information when asked to do so in an e-mail or text message … * WESTBROOK, Maine (1/29/09)--Credit unions were recognized for their success in raising the most funds ever for the Maine Credit Unions' Campaign for Ending Hunger during 2007. They raised more than $366,575, a 15% increase over 2006 fundraising. On hand to acknowledge the accomplishment at the January Thaw to End Hunger Celebration Event was Maine First Lady Karen Baldacci, shown with Luke Labbe, president/CEO of PeoplesChoice CU and chair of the Maine Credit Union league's Social Responsibility Committee. Baldacci assisted in distributing the checks to representatives from credit unions across the state. They will present the checks to their local area food pantries and hunger organizations. Since 1990, Maine credit unions have raised more than $2.7 million to end hunger in the state (Photo provided by the Maine Credit Union League) … * HARRISBURG, Pa. (1/29/08)--A letter to the editor of The Patriot-News (Jan. 27) from Pennsylvania Credit Union Association President/CEO Jim McCormack responds to a Jan. 13 article, "Do You Pay for Cash," and touts the CU$ selective surcharge-free alliance for credit union members. The alliance is through a joint effort between PCUA and Pennsylvania State employees CU (Life is a Highway Jan. 28) … * HARRISBURG, Pa. (1/29/08)--The Pennsylvania Credit Union Foundation awarded its 300th grant to Money Management International through CTCE FCU in Reading, Pa. (Life is a Highway Jan. 28). The grant will provide financial education and counseling to more than 600 underserved people in three Pennsylvania counties. Accepting the $6,760 check from Joe Wambach, foundation executive director, is Carolyn Tarrant, director of communications and education at Money Management International. The foundation has awarded grants valued at nearly $1.3 million since its inception in 1996. (Photo provided by the Pennsylvania Credit Union Association) … * STAFFORD SPRINGS, Conn. (1/29/08)--A Hartford, Conn., man charged in Wednesday's holdup of Workers' FCU, Stafford, served five years in prison for a similar heist at a bank in Manchester in 1998, police said (The Hartford Courant Jan. 26). In the 1998 robbery, Antwan Byrd, 32, fled the scene and led a state trooper on a car chase to Hartford before crashing the getaway car. In Wednesday's heist, a state trooper spotted the stolen getaway truck and gave chase to Hartford, where Byrd was arrested. An accomplice escaped. Byrd also has served five years in prison for two other robberies in Hartford. He was released last August … * NORTHVILLE TOWNSHIP, Mich. (1/29/08)--Dick Francis, former commissioner of the Michigan Financial Institutions Bureau, the predecessor of today's Office of Financial and Insurance Services, died Jan. 14. He was 75. Francis helped spearhead electronic banking legislation in Michigan in the 1970s, according to the Michigan Credit Union League (Michigan Monitor Jan. 28). He served as commissioner from 1973 until 1980. During his tenure, he promoted legislation on ATMs that became a model for the nation and helped lead efforts against redlining of poor and urban residents. He was also general counsel to the Michigan Life Insurance Co. Most recently he served as a consultant to Royal Oak Community CU and on the Sterling Bank board …


News Now LiveWire
Middle-class families walking a tightrope with little savings @pewresearch HT @CNNMoney
12 hours ago
.@CUNA's @SchenkMike on @federalreserve meeting:
12 hours ago
#creditunion cites prize-linked savings success in @WSJ
14 hours ago
.@CFPB proposes mtg rule changes 2 facilitate responsible lending by small creditors, esp. in rural/underserved areas.
16 hours ago
#NewsNow Apple Pay interest booming at CUs, Western Union joins
17 hours ago