NCUA Board Chairman Debbie Matz doubts a conversion of the $1.8 billion HarborOne Credit Union to a bank would benefit most members.
Suburban Boston credit union, in interview with local newspaper, explains next steps in proposed changeover to bank.
Suburban Boston credit union says board gave go ahead Thursday night.
Vote on plan to proceed with conversion to mutual bank was scheduled Wednesday.
Is conversion bid a sign of things to come? That's one point raised in this look at an article from next week's print edition.
Industry participants aren’t sure whether HarborOne Credit Union’s possible conversion signals a growing trend or is just an aberration.
Washington attorney Steve Bisker says the 141,000-member HarborOne is at only 20% of its member business lending cap.
One conversion specialist said he sees more ready to make the switch.
"Cooperative bank charter" may exist only in Massachusetts law; CEO says "we have to compete with everyone in the market."
In a statement, the league stressed that it is important for credit unions to consider the interests of their members first and foremost.