ARLINGTON, Va.-NAFCU President and CEO Fred Becker wrote the three NCUA Board members in support of NCUA exercising its right to maintain the 18% usury ceiling. The Federal Credit Union Act provides for a 15% ceiling but gives the agency a certain level of discretion to increase it. In recent...

DEARBORN, Mich. - There's a new Dearborn Federal Credit Union branch in Wayne County and it is making history. The first high school student-run credit union branch in the county has recently opened its doors for service. In conjunction with the Business Academy of Dearborn High School, DFCU is offering...

ATLANTA - CUSC, a provider of shared branching services, had a record-setting year for transaction volume in 2001. According to recent switch reports from EDS and eFunds, shared branching transactions through the CUSC network have exceeded 38 million transactions. Consisting mostly of deposits, withdrawals, transfers and loan payments the transactions...

ALBANY, N.Y. - Empire Corporate FCU recently announced a number of personnel moves as well as the shoring-up of the speaker line-up for its 25th Annual Economic Forum and Annual Meeting. Gary Furtado, president/CEO of Credit Union Central Falls, Rhode Island, has been appointed to Empire's board of directors. Furtado...

Chartway Federal Credit Union, Virginia Beach, Va., employees have raised more than $16,300 for the United Way of South Hampton Roads. The United Way of South Hampton Roads supports 160 local health and human services programs. They are an independent, volunteer-directed organization, a partnership of donors, volunteers and service providers...

ST. LOUIS, Mo. - The Missouri Credit Union System has scheduled a three-day seminar March 6-8 to assist credit unions throughout the country in better serving small businesses. Attendance at the "Serving Small Business Symposium" is open to credit unions in any state, and so far CUs in Indiana, Iowa,...

ALEXANDRIA, Va. - Credit unions having concerns about the valuation of their non-maturity shares, which may provide mitigation of interest rate risk, are being requested to submit feedback on an NCUA study that seeks to provide its examiners with more guidance in this area. Non-maturity shares include share drafts, regular...

MADISON, Wis. - State Director Ginger Larsen, of the Wisconsin Office of Credit Unions has stipulated in the state's proposed member business lending rule, higher loan-to-value (LTV) rate levels for development and construction lending than NCUA requires for federal credit unons. The LTV for development loans would be 65-70%, and...