closing

• AM Community CU May Have Been Over Extended on MBL

  By Michelle A. Samaad  |  August 27, 2012

  Against a backdrop of a groundswell of support to expand business lending authority, one outcome is becoming an unfortunate black eye on those efforts.

• Big Loan Fraud Felled New York Credit Union

  By Heather Anderson  |  August 27, 2012

  A bulletin released last week by the FBI revealed the reason the NCUA seized the $52 million Broome County Teachers FCU of Binghamton, N.Y., in June of 2011. Loan fraud.

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  Guest Opinion: FASB’s Proposal on Liquidity and Rate Risk

  By Michael Gagliardi  |  August 27, 2012

  The Financial Accounting Standards Board recently released a proposed accounting standards update for financial instruments concerning new financial statement disclosures of liquidity risk and interest rate risk. The proposal is one portion of a joint project between FASB and the International Accounting Standards Board on the subject of accounting for...

• Layoffs in S.C. Prompts Greater Abbeville FCU to Action

  August 27, 2012

  The $12 million, 2,350-member Greater Abbeville Federal Credit Union in Abbeville, S.C., is reaching out to its members and nonmembers hit by the closing of the Mohawk Industries textile plant in nearby Calhoun Falls, S.C.

• AM Community Credit Union Liquidated; MBL Delinquencies Tanked Financials

  By Heather Anderson  |  August 1, 2012

  AMCCU dismantled, purchased by TruStone Financial.