Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (06/07/2010)
* The National Credit Union Administration (NCUA) on Monday reported that Millbury, Ohio-based Woodco FCU ”sustained major damage” due to a weekend tornado touch down. While the $8.9 million in assets, high-school-based credit union was damaged by the storm, the credit union was empty at the time. The NCUA’s Region III staff will assist the credit union, which will temporarily relocate within the week. The NCUA also encouraged the FCU to “make loans with special terms and reduced documentation to affected members,” to “reschedule routine examinations if necessary,” and to use the available NCUA resources to back lines of credit and loans… * The Canadian Government has awarded a bank charter to U.S.-based big box retailer Wal-Mart. The retailer in 2007 withdrew its application for an Industrial Loan Company (ILC) charter, which was filed with the U.S. Federal Deposit Insurance Corporation. The ILC charter, if granted, would have permitted Wal-Mart to open individual branches in its stores. However, Wal-Mart representatives at the time denied that they intended to start their own financial institution, saying that the ILC application was aimed at reducing their overall transaction costs. Wal-Mart currently operates over 8000 stores in 15 countries, and allows financial institutions to provide a number of services through in-store branches…


RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
1 day ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
1 day ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
1 day ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
1 day ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
1 hour ago