NEW YORK–Capital at the $1.9-billion Melrose Credit Union has now dropped below levels that would require Prompt Corrective Action (PCA). Melrose has been suffering losses as a result of the decline in values of taxi medallions, which make up the bulk of its loan portfolio, as a result of services such as Uber and Lyft.
Fresh Today
NEW YORK–More homeowners are missing payments on home equity lines of credit as the loans reprice a decade after booming in the lead-up to the mortgage crisis.
WASHINGTON–The Mortgage Bankers Association has issued a forecast indicating that new home sales in July were down by 8% compared to June.
WAKEFIELD, Mass.―Thrive Payments and the Western Museums Association (WMA) today announced an alliance designed to improve payment acceptance services for WMA members.
SKIBBERDEEN, Ireland–A credit union here drew a full house to watch the broadcast of the Olympic race in which two local brothers were competing. Skibberdeen Credit Union set up large TVs inside its offices so locals could watch brothers Gary and Paul O’Donovan compete in the lightweight men's double sculls.
ALEXANDRIA, Va.–The video recording of the July 2016 NCUA open board meeting is now available on the agency’s website. Archived videos of past board meetings may be viewed here, and each video remains on the site for one year.
WASHINGTON—CUNA’s Ease the Burden grassroots campaign has reached more than 600,000 credit union members and resulted in more than 25,000 messages sent to Capitol Hill since its launch in late April, the trade association reported. The campaign is the latest phase of CUNA’s Member Activation Program, designed to educate and activate America’s 105 million credit union members.
ARLINGTON, Va. – Texas is the latest state to earn reaccreditation by NASCUS, continuing the Lone Star State’s status that began in 1996, when the Texas Credit Union Department was first accredited. The state was last accredited in 2011.
LONDON—Barclays is now providing voice security technology to all of its personal banking customers.
WASHINGTON–After reviewing proposals submitted by credit unions across the U.S., the U.S. Women’s Chamber of Commerce said it has selected a partner to assist it in rolling out financial services to its members.