Third-Quarter Results Show Gradual Rebound in Japanese Auto Inventory

Autoland President Jeff Martin discusses how this year’s tragic earthquake in Japan impacted auto inventory, how quickly inventory is returning to normal, and how this affects credit unions.

NCUA Files Suit Against Wells Fargo

The NCUA is suing Wells Fargo, alleging they violated state and federal securities laws and misrepresented the sale of securities to the now-defunct U.S. Central Federal Credit Union and Western Corporate Federal Credit Union.

NWCUA Representatives Speak On Mortgage and Foreclosure Issues During Oregon Legislative Days

This Oregon Legislative Update outlines recent legislative days in the Oregon Legislature, which included testimony on behalf of credit unions from Hal Scoggins and Pam Leavitt. Also included is Oregon’s November revenue forecast and a political update for the state.

Filene Study: How Credit Unions Grew Consumer Loans During Great Recession

Filene Research Group’s John Dangoia explains how credit unions increased the size of their consumer loan portfolios during the recent recession, illustrating the need to make the most of every lending opportunity.

NCUA Reaches Settlement in Lawsuits Against Citigroup, Deutsche Bank Securities

The NCUA reached separate settlements this week with Citigroup and Deutsche Bank Securities regarding the sale of residential mortgage-backed securities to five wholesale credit unions. Net proceeds will go toward reducing assessments charged to credit unions to pay for the losses.

Horizon to Acquire Montana First CU, Extending Reach to Three States

Horizon Credit Union announced plans to acquire Montana First Credit Union, a $63 million institution based in Missoula, Mont. The deal has already been approved by both boards and is expected to be finalized early next year.

Is Bank of America Really Backing Off New Fees?

Bank of America has announced plans to cancel its proposed $5 monthly debit card fee, seemingly caving to public pressure. NWCUA CEO John Annaloro stressed that this fee cancellation does not change the fundamental difference between banks and credit unions.

Foundation Grant Helps Express Credit Union Break Barriers in Reaching Unbanked

A grant from the Washington Credit Union Foundation has allowed Express Credit Union to improve outreach to low-income and unbanked consumers through better computer connectivity.

Federal Reserve Board Seeks Comment on Proposed Rules Intended to Simplify the Administration of Reserve Requirements

The Federal Reserve Board has requested comment on proposed rules intended to simplify the administration of reserve requirements and reduce administrative and operational costs for depository institutions and Reserve Banks.

Rogue’s Liz Shelby Honored as Volunteer Advocate of the Year

Liz Shelby was recognized with the Oregon Volunteer Advocate of the Year award for her outstanding contributions to the credit union movement as a tireless advocate and board member for Rogue FCU.

Tax Review Committee Holds Fall Hearing on Tax Preferences

The Citizen Commission for Performance Measurement of Tax Preference reviewed the B&O tax exemption for interest earned on first mortgage loans by banks in its Sept. 23 meeting.

NWCUA Convention Gets Underway Tomorrow

The 2011 Northwest Credit Union Association (NWCUA) 2011 Convention and Annual Business Meeting is here! Stay tuned for special editions of Anthem every day this week for all the news and notes from Convention.

Washington Credit Unions Express Interest in Launching Prize-Linked Savings Programs

A survey of Washington credit union CEOs revealed 12 interested in offering prize-linked savings programs to members by early 2012. An “Idea Exchange” at the NWCUA’s Convention and Annual Business Meeting will provide more information for industry leaders.

WesCorp Will Not Emerge From Conservatorship as United Resources; Regulator Urges Member Credit Unions to Stay Put Until a Merger is Worked Out

The NCUA has announced that three corporate bridge credit unions did not meet recapitalization goals. WesCorp, US Central and SE Corporate will not emerge as new entities. A number of Northwest credit unions have already been stung by WesCorp’s downfall.