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Armed Robbery Occurs in Grand Chute
Posted on November 26th, 2010 No commentsAuthorities in Outagamie County are investigating a credit union armed robbery. As two Fox Communities Credit Union employees arrived to work in Grand Chute, and began to open the side door – police say three masked men with at least one gun came out of nowhere, Fox 11 WLUK-TV reported. -
Payday Loan Rules Could Restrict Other Lenders
Posted on November 15th, 2010 No commentsNew rules regulating what critics have labeled “predatory lending” by payday lenders could also restrict the ability of banks, credit unions and other lenders to make small, short term loans. The Wisconsin Financial Services Association – which represents the consumer finance industry in the state, including subprime lenders – is calling into question rules being drafted by the state Department of Financial Institutions to carry out legislation passed by the state Legislature earlier this year. Read more in Milwaukee Magazine’s New Buzz. -
Six Wisconsin CUs Reach Billion-Dollar Status
Posted on November 3rd, 2010 No commentsFive years ago, not a single Wisconsin credit union had deposits of more than $1 billion. Today, there are six, including two based in Madison: Summit and UW credit unions. Banks far outnumber credit unions in the state and they hold 88 percent of the money in Wisconsin financial institutions. But credit unions, with a 12 percent market share based on deposits as of June 30, are a growing force. Read the Wisconsin State Journal article. -
UW Credit Union Introduces Text Service
Posted on October 13th, 2010 No commentsUW Credit Union is now offering text banking, a free service that allows members to interact with and manage their UW Credit Union accounts using text messages on their mobile phones, according to a press release. -
Challenging CUs’ Tax Exemption
Posted on September 5th, 2010 No commentsAmid the worst recession in a generation, the banking industry is again challenging the tax-exempt status of credit unions, according to the Wisconsin State Journal.
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Wis. Top 10 Credit Unions in the Black
Posted on August 24th, 2010 No commentsSix of Wisconsin’s 10 largest credit unions had lower net income in the first half of 2010 than in the same period last year, but all were running in the black. Eau Claire’s Royal Credit Union and Appleton’s Community First Credit Union had the biggest year-over-year percentage gains for the period ended June 30 at 196% and 100%, respectively, according to the Milwaukee Journal Sentinel.
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Summit Credit Union is State’s Largest CU
Posted on July 24th, 2010 No commentsMadison-based Summit Credit Union has surpassed Landmark Credit Union to become the largest in Wisconsin, with $1.5 billion in assets. CEO-elect Kim Sponem said Summit’s business lending is close to 9 percent of its assets, with plans to do more. “She said the credit union wants to pick up the slack on small-business lending that some banks either can’t or won’t do in the sluggish economy,” the Milwaukee Journal Sentinel reported. -
UW Credit Union Expands in Milwaukee
Posted on June 19th, 2010 No commentsTwo new branches of the University of Wisconsin Credit Union in the Milwaukee area probably won’t be the last. The state’s fifth-largest CU will buy a branch in Waukesha from the Equitable Bank, and in April, it opened a branch across from Mayfair Mall in Wauwatosa in a like-new building it bought from Amcore Bank before it failed and was shut down by regulators. Read the Milwaukee Journal Sentinel article.
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Royal Credit Union Buys 11 Anchor Branches
Posted on June 14th, 2010 No commentsEau Claire, Wis.-based Royal Credit Union is purchasing 11 AnchorBank offices in Amery, Balsam Lake, Centuria, Menomonie, Milltown, New Richmond, Osceola, River Falls, St. Croix Falls, Somerset and Star Prairie. The offices will open as RCU on June 28, according to WQOW Channel 18.
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CU Fine-Tunes Security After Armed Robbery
Posted on June 11th, 2010 No commentsFirefighters Credit Union in La Crosse, Wis., is reviewing security and training procedures following a May robbery in which an armed robber pointed a gun at president Bruce Zmolek, WXOW Channel 19 reported.