Archive for April, 2010
Wednesday’s decision by the Federal Reserve’s policymakers, the Federal Open Market Committee, to continue its course with low interest rates for an extended period is good news for credit unions, according to Steve Rick, CUNA senior economist.
During a Wednesday House Judiciary Committee hearing on potential interchange fee legislation, John Blum of Chartway FCU said if interchange-related revenues drop, credit unions and small financial institutions would “face an impossible decision of raising rates, eliminating rewards programs, or stopping their card programs altogether.”
CUNA and the World Council of Credit Unions (WOCCU) detailed for a House subcommittee their involvement in the Haiti Integrated Financing for Value Chains & Enterprises (HIFIVE) program, which “aims to stimulate the Haitian economy, improve the business environment and contribute to the sustainable and lasting development of Haitian enterprises, particularly in rural areas.”
The Vermont Legislature’s House Commerce Committee voted out a version of a credit card bill that could endanger card programs at Vermont credit unions.
The Missouri House of Representatives unanimously voted in support of Missouri’s highway credit unions this week, according to the Missouri Credit Union Association. The credit unions were in danger of losing their offices with the state transportation office.
The Emmy Award-winning Biz Kid$, the credit union-funded public television series that educates youth about finances, launched its fourth season by ringing the closing bell at the New York Stock Exchange (NYSE) Wednesday.
World Council of Credit Unions’ board of directors accepted–with a unanimous vote–the Federation of Savings and Loan Societies in Papua New Guinea as a direct WOCCU member.