ALEXANDRIA, Va. (Aug. 29, 2011) – To protect consumers, and ensure continuity of credit union services after Hurricane Irene,
the National Credit Union Administration has taken certain precautions.

While free checking is an endangered species at most large banks, credit unions continue to shine in this area, beating both big and small banks with their steadfastness to maintaining free checking for members, according to a Chicago-based pricing research firm.

Fannie Mae has settled a pair of lawsuits brought by Medford, N.Y.’s Suffolk FCU and Dover, N.J.-based Picatinny FCU after those credit unions sought compensation for mortgages that were improperly sold to the government-sponsored mortgage firm.

In a CNN Money interview segment titled “Credit unions keep perks, banks won’t,” Credit Union National Association (CUNA) President/CEO Bill Cheney underscored the differences between credit unions and banks and why credit unions continue to offer consumers the best deal in financial services.

The membership of Southwest Bridge Corporate voted overwhelmingly Tuesday to approve the corporate’s merger with Georgia Corporate, a consolidation that will create Catalyst Corporate on Sept. 6. Members of Georgia Corporate’s board are set to vote on the merger today.

The majority of private-sector employers will need to publicly post notices of employee rights, as detailed under the National Labor Relations Act (NLRA), in their offices beginning on Nov. 14.

In a message sent to credit union representatives this week, Rep. Brad Sherman (D-Calif.) expressed his continued support for credit unions’ legislative priorities, including maintaining their not-for-profit tax status and relieving regulatory burdens.

Credit unions on the northern East Coast continued Tuesday to recover from the effects of last weekend’s Hurricane and Tropical Storm Irene.

Credit unions in New York and Michigan were busy during the past week, advocating lifting credit unions’ member business lending cap and discussing other issues with members of Congress, who were back in their districts during the August recess.

Credit unions along the East Coast were well prepared for Hurricane Irene’s arrival this past weekend.