NORTH CHESTERFIELD, Va.—Christopher Shockley has been named CEO of the $2.9-billion Virginia Credit Union.
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SCOTTS VALLEY, Calif.--Intuvo, a provider of marketing automation software to the credit union industry and a division of CU Direct, has entered into new partnership agreements with nine credit unions. As a result of the agreement, the credit unions will be implementing Intuvo’s mortgage automated marketing platform to increase loan volume and member satisfaction.
LAWRENCEVILLE, Ga.—Low gas prices are propping up the values of used trucks and full-size SUVs, according to Black Book.
WASHINGTON—NAFCU President and CEO Dan Berger discussed credit union regulatory relief and other top advocacy goals for the association with Senate Majority Leader Mitch McConnell (R-KY), and other lawmakers Wednesday.
DUBLIN, Ohio—POS system malware at some of Wendy’s restaurant locations may be the root cause of the fraudulent credit and debit charges reported by the fast food giant’s customers.
WASHINGTON—Indications are the Federal Reserve may back away from its original plan for four rate hikes in 2016.
LONDON, U.K.–The move by the Bank of Japan last week to cut the rate on current accounts that commercial banks hold with it to -0.1%–meaning it is essentially charging banks to keep money with it rather than paying interest–is no longer an anomaly, according to new analysis from global advisory firm Oxford Economics.
WASHINGTON—With negative interest rates in place in several countries, the U.S. Federal reserve has also asked banks to consider what might happen if the same scenario emerged in the United States.
WASHINGTON—CUNA Wednesday stated its support for the letter from Reps. Frank Guinta (R-NH) and Ruben Hinojosa (D-TX) to NCUA requesting that the agency extend the exam cycle beyond one year for well-run credit unions.
MADISON, Wis.–More than $100 million in loans has been made over the past two years as part of a pilot program to extend financial services into underserved markets, according to the Filene Research Institute, which led the effort.