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WASHINGTON - The Federal Reserve cut the federal funds rate by 25 basis points to 1.75 % at its December 11 rate setting meeting and left the door open for another 25 basis point cut early next year. The action by the Federal Open Market Committee, the Fed's interest rate...

Royal Credit Union, Eau Claire, Wis., has named Linda Putnam Moholt Express branch manager. Home Town Credit Union, Owatonna, Minn., has named Sara Morris Faribault branch manager.

ALEXANDRIA, Va.-Federal credit unions this year expanded service to underserved areas at an unprecedented rate. An additional 12.5 million potential new credit union members were added as of November 30, 2001. NCUA Chairman Dennis Dollar credited the significant increase to the agency's streamlined application process for expanding into underserved communities....

Corporate credit unions embraced technology in 2001. A number of corporates launched bill pay. Four corporates used their economies of scale to get a better pricing deal to offer its member CUs bill payment. This deal involved CenCorp, SunCorp, Empire Corporate, Southwest Corporate, all of which have launched their bill...

ALEXANDRIA, Va.-A warm fuzzy holiday feeling was certainly not the atmosphere of the final NCUA Board meeting of 2001. While the board breezed through the first nine items on the agenda, the final item, the repeal of the Community Action Plan (CAP), proved to be a real sticking point. Of...

ANCHORAGE, Alaska - Effective Jan. 2, the 25-year old Alaska Credit Union League ceased operating as a staff-run organization and began being run entirely by volunteers, including its 13-member board of directors. League Chairman Sharon Kelly, president of Alaska State Employees CU, Juneau, denied rumors that the move to a...

HONOLULU - Deborah Kim, executive vice president of Hawaii State FCU, has become the first woman to be president of the state's largest credit union in its 65-year history. Kim took over the reins when former president Peter Leong retired on Dec. 7 after 10 years of service with the...

Three very well-known corporate CU CEOs announced retirement plans in 2001. They all were CEOs of corporates over $1 billion. * Dick Johnson will step down as CEO of WesCorp early next year. Johnson's storied credit union career is actually his second. He spent 30 years with the Marine Corps....