Members of Technology Credit Union voted to reject a proposal to convert their institution to a mutual bank.
Seventy-seven percent of voting members cast ballots to remain a credit union.
Small bank trade pushing hard for Congress to extend FDIC coverage of noninterest-bearing transaction accounts before it expires Dec. 31.
Using the NCUA’s midpoint estimates of remaining corporate stabilization costs, CUNA Chief Economist Bill Hampel estimates it would take four more years of assessments similar to the 2012 rate of 9.5 basis points to pay off corporate losses.
CUNA economist says lowering, spreading out payments would lessen impact on bottom line; NAFCU says release funds from NCUSIF.
The Temporary Corporate Credit Union Stabilization Fund made progress against legacy asset losses in 2011, improving the fund’s net position from 2010, according to audited financial statements released by the NCUA. The fund also received a clean report from outside auditors.
Problems in Greece, Spain and other Euro zone countries could show up on credit union balance sheets, according to industry economists.
The European financial crisis may be half a world away, but problems there could show up on credit union balance sheets here.
Bank Transfer Day momentum apparently continues.
CUNA Chief Economist Bill Hampel has responded to a Fitch Wire article critical of raising the credit union member business lending cap that read like it came straight off a banker lobbyist talking points list.