Article: CREDIT UNION ORGANIZATION LOOKS TO ENTER PROCESSING WITH BANK BUY.(News)

Anticipating consolidation of the corporate credit-union system, the Iowa Credit Union League has applied to federal banking regulators to buy an Arizona bank that would help it expand into payment processing, reports Credit Union Journal, a CardLine sister publication. The proposed purchase of the $16 million-asset CreditCard National Bank in Tucson would aid the league's move to offer credit card processing and provide a broader scope of investment and lending opportunities, the league said in an application filed with the Federal Reserve Bank of Chicago. "This is an alternative way of providing some credit card processing and looking to the future," says Steven ...

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