Family Security Credit Union to purchase Bank of Pine Hill

Family Security Credit Union has negotiated the purchase of the Bank of Pine Hill, located in Pine Hill, AL. The $580-million credit union will purchase substantially all of the assets and assume the deposits of the $25-million bank in a deal expected to take place in the first quarter of 2017. Approval from state and […]

Non-interest income sources rising for credit unions

Non-interest income sources continue to emerge within the credit union industry with limited options for income reporting and composition on the 5300 Call Report.  Earlier this summer, Callahan & Associates surveyed 170 credit union executives from 40 states to gain insight into their current and emerging sources of non-interest income. The Non-Interest Income survey focused […]

Birmingham Chapter donates to support flooding victims in Louisiana

The LSCU this week announced its support of the NCUF’s CUAid disaster relief system, donating $2,500 to help Louisianans in need. Now the Birmingham Chapter of Credit Unions has announced it will donate $1,500 to the Louisiana relief efforts, said Derrick E. Ragland Jr., president of the chapter and president/CEO of  APCO Employees Credit Unions […]

Possible choices for payments technologies on the horizon

Emerging trends on the horizon for future payments technology are possibilities for credit unions, while there remains much work to be done to make these relevant to members. Here is a sneak preview of some evolving trends that might make it to the marketplace: Doing the talking Biometrics is one area of research in the […]

CUAid, Southeastern Credit Union Foundation give to Louisiana

As Louisiana struggles to recover from massive flooding that hit Baton Rouge and the surrounding areas, the National Credit Union Foundation (NCUF) activated CUAid, the online disaster relief system, one week ago. Since then, it has collected more than $53,000 in donations to help CU employees. The flooding continues, and more help is needed. To show […]

Data breach numbers climbing for 2016

Eddie Bauer reported last week that its point-of-sale systems at the company’s retail stores were compromised in a malware attack that enabled “unauthorized parties” to gain access to payment card information. Transactions with the company’s online store were not affected by the breach. The announcement from Eddie Bauer comes just a few days after an announced […]

Number of credit union mergers down in second quarter 2016

NCUA approved 46 credit union mergers in the second quarter, which is less than the 54 mergers approved by the federal agency in the first quarter of 2016. This data is quite an improvement in comparison to second quarters in years past. In the second quarter of 2015, there were 72 mergers, 70 in 2014, and […]

Potential for mobile phones to be compromised explored by experts

Mobile phones could be vulnerable to hackers aiming to eavesdrop or disrupt networks, according to Ars Technica. The attack could come with the introduction of a bug through a spectrum of telecommunication products, including radios in cell towers, routers, and switches, as well as the baseband chips in individual phones. “Although exploiting the heap overflow […]

CUAid activated for credit union members and staff hit by Louisiana flooding

The National Credit Union Foundation (the Foundation) has activated the online disaster relief system, CUAid.coop, to raise money for credit union people in Louisiana affected by recent flooding. Credit union supporters in every state can make donations at the website. CUAid is the only program of its kind that enables credit union employees, volunteers,and members, as well […]

Credit union loan balances hit all time high

Credit union loan balances were up 10 percent to $834.3 billion in the second quarter of 2016, according to a Callahan & Associates’ analysis of 5,959 institutions, setting a record for credit unions. The increase in loan balances is primarily driven by first mortgages and used and new auto loans, accounting for 81.6 percent of […]