WASHINGTON–CUNA has sent a letter to NCUA urging it to work with credit unions as they try to comply with the Financial Accounting Standards Board’s (FASB) pending proposal that will require CUs to utilize a current expected credit loss (CECL) model on all financial assets and financial liabilities. The trade group repeated its position that it does not believe the new model is “appropriate” for credit unions.
Fresh Today
MANCHESTER, N.H.–While campaigning door to door here, Democratic presidential candidate Hillary Clinton found herself engaged in a discussion of the differences between credit unions and banks with one local resident.
ALEXANDRIA, Va.—The Wisconsin Office of Credit Unions Friday served an order of liquidation on tiny CTK Credit Union of Milwaukee and immediately appointed the NCUA as liquidating agent.
WASHINGTON—Contrary to the direction the Fed has gone, mortgage rates moved lower for the fifth consecutive week last week.
INTERNATIONAL FALLS, Minn.–TruStar FCU announced it is paying a $550,000 patronage dividend to members.
DES MOINES, Iowa–The $1.3-billion Dupaco launched the availability of the Android Pay and Samsung Pay digital wallet solutions to its members today.
MEDFORD, Mass.–The $221-million Members Plus Credit Union has announced a new CEO. MPCU has named John J. Murphy to the post.
MADISON, Wis.– To celebrate America Saves Week 2016, the National Credit Union Foundation said it will host a Twitter chat for credit unions on Wednesday, Feb. 17 at 2 p.m. (CT). The Foundation is inviting credit unions to discuss their activities encouraging members to save money and build wealth.
PURCHASE, N.Y.—In an effort to help customers control their budgets and manage their finances, MasterCard is launching a new installment payment program in several European countries later this year.
LOS ANGELES—University Credit Union has introduced a Hometown Hero checking account and loans, which deliver special benefits to police officers, firefighters, nurses and others who serve the community and country.