Private insurance could be an easy way out for credit unions wishing to become banks. But will the FDIC welcome them in?
It's tempting to attempt to predict how many credit unions might try to jump to a bank charter in 2013. But that is hard to say. It's easier to observe some trends that came to the fore in 2012 and are likely to continue next year.
The days when credit union board could reliably count on members to vote themselves out of being members have largely ended.
The NCUA has asked credit unions that process their debit and credit card transactions with FIS to evaluate their relationship with the card processor in light of an information technology supervisory letter the company has received from other federal financial regulators.
Agency cites information technology supervisory letter the company has received from the FDIC; FIS processes credit and debit transactions for 5,400 credit unions.
CUNA Chief Economist Bill Hampel says his analysis shows that Tech CU would pay more for FDIC coverage than now for NCUSIF.