Ten credit unions establish collateralization pool, four cities commit to using it.
At a time when it’s difficult to convert deposits to loans, does it make sense to open the door to an additional flow of money into a credit union?
Five credit unions in Oregon are well on their way to accepting and safely holding large government fund deposits.
Partnership follows passage of enabling legislation by state lawmakers.
Minnesota credit unions are now designated as approved financial institutions able to redeposit funds from the state’s cities and counties following the signing of a new law by Gov. Mark Dayton.
Gov. Scott Walker signed into law doubling charitable contribution limits, expanding municipal deposit syndicates and harmonizing secured transactions.