Credit Unions Not Getting Pampered With a Spa Day
Some dustups have taken place or are in the works that are affecting credit unions. It’s enough to clog your pores, so I’m going to just clean that up a little bit with an apricot scrub. (I’ll apply a light cleanser to that mixed metaphor while I’m at it.)
Just as we were going to press, the $1 billion MECU of Baltimore announced that it would be purchasing the $61 million Advance Bank, also located in Baltimore. No purchase price was announced, but the deal calls for MECU to acquire all loans, investments, real estate, accrued interest receivables and other banking-related assets, as well as to assume all deposits, Federal Home Loan Bank advances and accrued interest payable.