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The Darkness Spreads Over Credit Union Land: $50 Billion Un-Accounted For

The Darkness Spreads Over Credit Union Land: $50 Billion Un-Accounted For: There has been no public accounting for the Temporary Corporate Credit Union Stabilization Fund for nearly two years. Where are the voices calling for light?...[Read Article]

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NCUA Issues Final Rule to Revise Record Preservation Requirements

ALEXANDRIA, Va. ― The National Credit Union Administration has issued a final rule revising record preservation requirements for credit unions in the event of a catastrophic act. This rule is codified at 12 CFR 749.   “Maintaining vital records is essential to the safety and soundness of any federally insured credit union’s operations and its ability to best serve members,” NCUA Chairman Kyle Hauptman said in a statement. “But NCUA, unlike other regulators, didn’t have a limit on how long records had to be kept. This led to unnecessary cost, hassle and uncertainty. This final rule will ease unnecessary and overly prescriptive preservation requirements, while ensuring that credit unions retain the critical documents needed in instances of disaster”  According to the agency, the vital records preservation program rule was first created in 1972 to ensure that federally insured credit unions keep duplicate records that can be used for reconstruction purposes in the event of ...
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Boston Firefighters Credit Union Becomes First Responders Credit Union

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Facial recognition to secure payments will exceed 1.4 billion globally by 2025

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Update from TruStage - Forecast for CU, Economic Performance for Remainder of 2026, 2027

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FFIEC Proposes Biggest CAMELS Overhaul In 30 Years, Citing Need For Greater Transparency

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