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MADISON, Wis. – CUNA Mutual Group and its employees union, the Office and Professional Employees International Union Local 39, have reached an agreement on a new three-year labor deal that will give the Union’s 700 Madison-based workers 3% raises for each of the years, as well as ratification bonuses. more »
PIERRE, S.D. –Members of Black Hills FCU have petitioned the South Dakota Supreme Court to declare a lawsuit against the credit union and CUNA Mutual Group’s CUMIS Insurance Society unit over credit life disability terms a class action. more »
NEW YORK – A federal court here yesterday ordered Standard & Poor’s to produce all records related to $72 million of failed mortgage-backed securities CUNA Mutual Group bought from RBS Securities and any documents that may show the Wall Street investment bank’s alleged efforts to coerce or pressure the rating agency into providing high ratings on the doomed MBS. more »
FRESNO, Calif. – Fresno Police Department CU has become the first credit union this year to convert to private deposit insurance, provided by Ohio’s ASI Inc. more »
BEAVERTON, Ore. – Rivermark Community CU has hired Insuritas to open a turnkey insurance agency for its 65,000 members. more »
SALEM, Ore. – CU Benefits Alliance, a multi-credit union CUSO, today announced it has signed with Cigna to provide group health insurance to credit unions across the country. more »
WICHITA, Kan. – Medical Community CU has signed with Insuritas to provide the company’s turnkey insurance solution to its members. more »
WASHINGTON – A proposal by Fannie Mae to lower the cost of force placed homeowners’ insurance policies has been rejected by the Federal Housing Finance Agency, the regulator for Fannie Mae and Freddie Mac. more »
LONG ISLAND CITY, N.Y.—United Nations FCU said this afternoon its UNFCU Financial Services LLC, CUSO has acquired Industrial Coverage Corp, a privately-held, full service commercial and personal insurance agency located in nearby Patchogue, Long Island. more »
RALEIGH, N.C. – State Employees CU this morning opened its own life insurance company which will provide members of the country’s second largest credit union with simplified issue term and whole life policies, single premium deferred and immediate fixed annuities. more »
ANCHORAGE, Alaska – Denali Alaskan FCU has signed with Insuritas to expand its insurance business with an automated sales platform and online agency capabilities. more »
BOSTON – CUMIS Insurance Society last week filed suit against a New Hampshire sign manufacturer and its Massachusetts contractor for an electrical fire in Service CU’s Falmouth, Mass., branch – for which the credit union insurer paid the New Hampshire credit union more than $1 million in reimbursements. more »
WASHINGTON – The new Chairman of the House Financial Services Program opened the 113th Congress today by proposing an end to the federally subsidized flood insurance and a privatization of the program that was most recently soaked by losses from Hurricane Sandy. more »
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