Competing in today's auto finance market has become more challenging than ever before. Recent events have forced the automakers to provide dealerships with stronger incentives to help them sell vehicles. Who Are The Competition? As the new models are introduced in the fall months of every year, so are special...

WASHINGTON-Former New York Congressman Gerald Solomon (R), an original sponsor of the Credit Union Membership Access Act (CUMAA), died last week. He was the former chairman of the House Rules Committee. Solomon "will be sorely missed," NAFCU Senior Vice President and General Counsel Bill Donovan said. Donovan recalled that the...

SANTA ANA, Calif. - Orange County Teachers Federal Credit Union has extended provisions of the Soldier and Sailor Civil Relief Act for its members. Recognizing that relief provisions under SSCRA may not be sufficient for some members to meet their current loan obligations, eligible members will now be offered reduced...

ONTARIO, Calif. - It seems it pays to be a CO-OP Network shareholder these days. For the second time this year, CO-OP Network, the largest credit union EFT network, has issued a patronage distribution to shareholders. This latest disbursement of $1,130,400 brings the combined patronage distribution for the calendar year...

ST. CLOUD, Minn. - Bankers Systems Inc. has introduced Artar Lending Documentation System for credit unions. Arta Lending for credit unions is a 32-bit Windowsr-based lending documentation solution designed specifically to help credit unions document loans faster and more efficiently, according to BSI. BSI said ARTA is an all-in-one solution...

KING OF PRUSSIA, Pa. - SEDONA Corp. has developed a timely program given recent current events. SEDONA technology is being used to assist financials in complying with the Office of Foreign Asset Control (OFAC). OFAC administers and enforces economic and trade sanctions against targeted foreign countries, terrorism-sponsoring organizations, and international...

CU Times Editor-in-Chief BATON ROUGE, La. - Jeff Gutierrez speaks from experience when he tells credit unions that the majority of car dealers, like any good businessman, want to make as much money as possible and will try every trick in the book to make a sale. "They have a...

NORWALK, Conn.-NCUA, CUNA, NAFCU, and NASCUS all provided information to the Financial Accounting Standards Board (FASB) on the uniqueness of credit unions as cooperatives regarding mergers. The Office of Thrift Supervision, America's Community Bankers, and others represented other mutual organizations in telling FASB that the purchase method of accounting is...