Maryland's financial regulator and the FDIC have approved the purchase of Advance Mutual Savings Bank in Baltimore by Municipal Employees Credit Union of Baltimore.
Industry experts say due diligence can help credit unions avoid losses like those suffered by the $620 million Alabama One Credit Union in Tuscaloosa, Ala., and the Small Business Administration, which were defrauded of more than $3 million by a businessman.
Tennessee food maker workers credit union merges into California-based Western.
Convicted, ordered to forfeit home, motorcycles, ATV and hundreds of handbags and shoes.
Losses like the $3 million case involving the SBA and Alabama One can be avoided, experts say.
MECU awaits only member vote to buy Advance Bank of Baltimore.
Measures would delay increases by perhaps four years if they gain passage.
Beth Ann Ledbetter one of three ex-staffers in fraud scheme at Valley Credit Union in Tuscumbia, Ala.
Senate bill would delay NFIP-mandated increases except for second homes and businesses.
Sixteen state leagues merge in past six years.