ORLANDO, Fla.—It does not appear likely a credit union in Colorado that would serve the state’s marijuana industry will be approved for federal deposit insurance any time soon, judging from comments made by one NCUA board member.
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BURLINGTON, Vt.—Vermont FCU has selected Insuritas to provide it with a turnkey insurance program.
MILWAUKEE, Wis.—Richard Jungen, the founder of Central States Mortgage, which was approximately 80% owned by credit unions in this state before it shut down, has been sentenced to one year and one day in jail for what one prosecutor said was “enriching himself and his friends at the expense of the credit unions who placed their trust in him.”
NEW YORK—A new report reveals that while cyberattacks are becoming increasingly sophisticated, many criminals still rely on decades-old techniques such as phishing and hacking.
TORONTO—At least one mortgage broker here has called for a boycott of Meridian Credit Union after it has refused to allow its broker partners access to a 1.49% mortgage product it is offering.
BURNSVILLE, Minn.—US Federal Credit Union is reporting that since it began offering its financial education and counseling services through a partnership with Lutheran Social Service (LSS) in January of 2007, its members have paid off $2.1 million in debt through the debt management program.
AKRON, Ohio—Members’ growing reliance on e-services has BFG FCU consolidating two of its locations.
RANCHO CUCAMONGA, Calif.– CO-OP Financial Services said it has signed an agreement to purchase from a subsidiary of Fidelity National Information Services (FIS) its shares in Everlink Payment Services, Inc., which will give CO-OP majority ownership of the Canadian payments solutions and services provider to credit unions, banks and ISOs in Canada. The agreement is subject to contractual closing conditions.
MINNEAPOLIS, Minn.—As CUToday.info was first to report, Target and MasterCard have reached an agreement to reimburse financial institutions for costs associated with the massive 2013 data breach.
WASHINGTON—If NCUA were to change the NCUSIF assessment base from insured shares and deposits to total assets minus net worth, only 456 natural-person credit unions would see their portion of the NCUSIF assessment base increase as of the end of 2014, reports Keith Leggett.