NEW YORK–The $3-billion Municipal Credit Union, currently being managed under conservatorship by NCUA, reported $123-million in losses as of mid-year, according to its 5300 report. The losses pushed its net worth ratio to 3.41%, meaning it is significantly undercapitalized according to NCUA.
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WASHINGTON—The CFPB has published a request for information (RFI) seeking input on how it can use "Tech Sprints" to "encourage regulatory innovation and collaborate with stakeholders in developing viable solutions to regulatory compliance challenges."
MADISON, Wis.—CUES announced the individuals who will be inducted into its 2019 Hall of Fame.
MILWAUKEE, Wis.–For the third year in a row, Corporate Central said it is partnering with Special Olympics Wisconsin to bring credit unions together as part of the “Titletown Showdown.”
ALEXANDRIA, Va.—Federally insured, low-income credit unions that want to become certified Community Development Financial Institutions have until Oct. 5 to apply to use the NCUA’s qualification process for streamlined CDFI certification, the agency reminded.
AUSTIN, Texas– United Heritage Credit Union has launched a new “Get Paid Early” campaign. According to UHCU, when members set up direct deposit with their employer, the member can receive their funds up to two days earlier than their normal payday, with no hidden fees.
SAN DIEGO–North Island Credit Union, a division of California Credit Union, said it is expanding its partnership with the USS Midway Museum to support a variety of the organization's youth and educator programs as well as other events through the upcoming year.
CHICAGO–The CUNA Operations & Member Experience Council and Technology Council presented their annual awards during the groups’ joint annual meeting here.
ATLANTA—The ratio of subprime loans to total originations is at the lowest point since 2011, a new report indicates. Data from Equifax shows that percentage is currently 20.7%.
ALEXANDRIA, Va.–The NCUA board has voted 3-0 to amend regulations governing the responsibilities of a federally insured credit union (FICU) when it comes to obtaining an annual supervisory committee audit.