Press

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Federal and state regulators release updates to the BSA/AML Examination Manual

ARLINGTON, VA (August 2, 2023) — The Federal Financial Institutions Examination Council, on behalf of its members, released updates to the following sections of the Bank Secrecy Act/Anti-Money Laundering Examination Manual. Special Information Sharing Procedures to Deter Money Laundering and Terrorist Activity Due Diligence ...

Alliance CU finds member-centric, technology-driven partner in Co-op Solutions

RANCHO CUCAMONGA, CA (August 2, 2023) — With greater member convenience, access and product customization as its goals, ALLIANCE Credit Union has selected Co-op Solutions as its partner to provide In-House Credit and Debit transaction processing, and ATM Terminal Driving services. “We were looking for ...

United Federal Credit Union names new mortgage advisor in Grand Rapids

ST. JOSEPH, MI (August 2, 2023) — United Federal Credit Union (United) is pleased to announce the appointment of Steve Frendt to Mortgage Advisor in Grand Rapids. Frendt is based at United’s Beltline Mortgage Production Office located at 1600 East Beltline Ave. NE, Suite ...

Harborstone Credit Union announces agreement to acquire First Sound Bank

LAKEWOOD, WA (August 2, 2023) — Harborstone Credit Union announced today that it has entered into a definitive agreement to acquire Seattle, Washington-based First Sound Bank (OTCPK: FSWA). The transaction is structured as a purchase agreement with Harborstone Credit Union purchasing essentially all assets and ...

Avoiding prohibited discrimination practices in automated underwriting systems

ALEXANDRIA, VA (August 2, 2023) — In February 2022, the National Credit Union Administration (NCUA) issued a Letter to Credit Unions addressing Equal Credit Opportunity Act (ECOA) Nondiscrimination Requirements. The letter discussed violations the NCUA has observed involving credit unions, including the prohibited basis variable “...

NCUA working with credit unions in flooded areas of Vermont

ALEXANDRIA, VA (August 2, 2023) — The National Credit Union Administration is working with federally insured credit unions affected by the recent severe storms and flooding in Vermont to help protect consumers and ensure continuity of services. The NCUA is closely monitoring the situation to ...

Hawaii Central Federal Credit Union presents HUGS with a check

HONOLULU, HI (August 1, 2023) — HUGS Executive Director Amy Morton-Sogi and Development Director Alex Wereszczynskyj stopped by the Hawaii Central Federal Credit Union (FCU) Main branch on King Street where they were presented with a check in the amount of $1,052.00. Last ...

MCUL announces new Director of State Advocacy

LANSING, MI (August 1, 2023) — This week, the Michigan Credit Union League (MCUL) announced the hiring of DaeSean Ashby as the team’s new Director of State Advocacy. Ashby comes from Acuitas LLC, a multi-client lobbying firm in downtown Lansing. At Acuitas, he focused ...

Sound Credit Union supports WWIN

TACOMA, WA (August 1, 2023) — Earlier this summer, Sound Credit Union (Sound) held their annual auction to raise money for a local nonprofit. This year, the proceeds raised benefited WWIN (Washington Women in Need). Sound employees procured nearly 85 auction items and raised over $...

Robins Financial Credit Union supports local community: Donates $200,000

WARNER ROBINS, GA (August 1, 2023) — Robins Financial Credit Union recently donated $200,000 to 16 non-profit organizations through their Community Project. The organizations selected are empowering and enriching the lives of individuals and families in the areas they serve. Robins Financial is committed ...

MCUL supports CUNA and NAFCU merger

LANSING, MI (August 1, 2023) — The Michigan Credit Union League (MCUL) was excited to learn of the intent to merge our strong national associations – CUNA and NAFCU – to form America’s Credit Unions. The League is pleased that our entire credit union family has ...

CUNA and NAFCU Boards of Directors announce plans to merge

WASHINGTON, DC (August 1, 2023) — The American Association of Credit Union Leagues congratulates  the CUNA and NAFCU Boards of Directors in announcing this historic merger. “We believe the merger  is best for credit unions and their members as a superior model for a national ...

Hiway Credit Union & SPIRE Credit Union proposed merger approved by NCUA

ST. PAUL, MN (August 1, 2023) — Two of Minnesota’s largest credit unions, Hiway Credit Union and SPIRE Credit Union, are seeking to merge. Both organizations’ Boards of Directors, CEOs and leadership teams unanimously support this partnership. The NCUA has approved the organizations’ proposal ...

Agent IQ, WBR Insights and Future Branches share “Banking from Anywhere” report, highlighting consumers’ perspective of digital and in-person experiences

SAN FRANCISCO, CALI (August 1, 2023) — Agent IQ, the pioneer in digital relationship banking providing personal banker engagement and AI-supported self-service, and WBR Insights, the custom research division of Worldwide Business Research (WBR), the world leader in industry-driven thought-leadership conferences, and Future Branches, released ...