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CO-OP ANNOUNCES SHAREHOLDER DIVIDEND
updated 04/14/14 01:37 PM
Patronage Pool of $30.5 Million
CO-OP Financial Services has announced a shareholder dividend pool of $30.5 million for 2013—a 17 percent increase from 2012. Since becoming a credit union-owned cooperative in 1996, CO-OP’s total shareholder patronage has been $284.8 million.

“The year 2013 was a good one for the credit union system, with membership, loans and earnings up in aggregate for the industry,” said Stan Hollen, President/CEO, CO-OP. “At CO-OP, we had record sales and earnings, enabling us to provide our nearly 1,200 member-shareholder institutions with a healthy increase in patronage for the year.”

Other 2013 CO-OP highlights:

  • Zero unscheduled or scheduled downtimes on Electronic Funds Transfer (EFT) switches
  • A record 2.8 billion transactions processed
  • A 8.7+ customer satisfaction rating in all of its businesses

 
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NCUF RELEASES ANNUAL REPORT updated 08/29/14 02:44 PM
Activities From Last 12 Months
The National Credit Union Foundation (NCUF) released its 2013-2014 Annual Report, entitled “Improving People’s Financial Lives through Credit Unions.” The report highlights the organization's program and grant activities during the past 12 months.

WEEKLY E-FILING BILL SIGNED INTO LAW updated 08/28/14 02:18 PM
Will Streamline Reports for CUs
California Gov. Jerry Brown has signed Assembly Bill 2298, legislation that will allow financial institutions which hold local agency deposits to submit their weekly reports to the California Department of Business Oversight (DBO) electronically rather than through U.S. mail.

NEW STATE LAWMAKERS SHAPE DIRECTION updated 08/27/14 08:24 PM
California Assembly and Senate
New leadership in California will help form the state’s priorities in the coming years. Here’s what your credit union needs to know:

CFPB ISSUES FINAL 'TILA' ADJUSTMENTS updated 08/24/14 11:35 AM
Rule Reviews Dollar Amounts
The Consumer Financial Protection Bureau (CFPB) is issuing its final rule on Truth in Lending Act (TILA) annual threshold adjustments, amending the regulatory text and official interpretations for Regulation Z, which implements TILA.