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CU-backed swap bill moves on to Senate

The Small Business Credit Availability Act (H.R. 3336), which would preserve the rights of credit unions and other small financial institutions to use swaps to hedge interest rate risk, will move on to the Senate after it passed a U.S. House vote this week.... More

Minnesota CU Network, co-ops discuss collaborations

The Minnesota Credit Union Network hosted a panel of leaders discussing how credit unions can develop mutually beneficial partnerships with local cooperatives, as part of its celebration of the International Year of Cooperatives.... More

Bank Transfer Day’s Kristen Christian lobbying to lift MBL cap

Kristen Christian Photo

Kristen Christian, the woman considered most responsible for Bank Transfer Day, last year's social media effort to convince Americans to close their accounts at large banks and open accounts at credit unions and community banks, has become a lobbyist for raising the congressional cap on member business lending.... More

Credit Unions Kids at Heart celebrates Boston Marathon

The Credit Unions Kids at Heart marathon team participated in the 116th running of the Boston Marathon on April 16, raising $100,000 for Children's Hospital Boston. Patient partners, families and friends gathered at Boston's fire station Engine 33, Ladder 15 to cheer on the team as eight credit union runners took to the course in the heat.... More

CUNA highlights Banker survey showing readers back MBLs

CUNA queried the American Banker Thursday asking: Based on your publication's own online survey results, why not write about all the banks that apparently have no quarrel with credit unions' member business lending bill?... More

FOMC keeps federal funds rate at 0% to 0.25%

The Federal Reserve's decision to maintain the target range for the Federal Funds Rate at 0% to 0.25% will hurt credit unions' margins, but that will be offset by lower loan-loss provisions, according to a Credit Union National Association economist.... More

U.S. Treasury designates Mid Cities CU as CDFI

Mid Cities CU in Compton, Calif., has been awarded Community Development Financial Institution (CDFI)Certification by the U.S Treasury. Certification allows the credit union to apply for grants from the federal CDFI Fund.... More

CUNA, other trades jointly back cyber-security reforms

The financial services industry is committed to ensuring national cyber-security standards remain strong, and CUNA has joined with the Electronic Funds Transfer Association and other groups to urge members of the U.S. Congress to support legislation that is designed to further protect national security in cyberspace.... More

Mortgage rule relief needed, CU rep tells CFPB

The Consumer Financial Protection Bureau should consider meaningful exemptions for credit unions and other small financial institutions as it develops new mortgage servicing rules, American Southwest CU CEO Brian Barkdull said at a CFPB Small Business Regulatory Enforcement Fairness Act panel discussion held this week in Washington.... More

MBL increase brings choice, credit access: ACI blog

Increasing the credit union member business lending cap "means more competition, greater choice, and increased access to capital," American Consumer Institute Center for Citizen Research President Steve Pociask said in a recent blog post.... More

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