Every year at this time, this space is reserved for predictions. Last year when I made mine, I must have been in a sour mood for they were downright bleak.
Though mindful of its weakened financial condition, the $6.6 million Mission SF FCU of San Francisco pressed ahead last week with industry fundraising to bring in a minimum $50,000 of capital to stave off a merger or liquidation.
Issuing an unusual appeal, the ailing the $6.6 million Mission SF FCU has asked CUs to donate funds to help restore its capital and forestall an NCUA-engineered merger or liquidation.
A struggling San Francisco credit union on the brink of collapse and appealing for $50,000 in capital donations from its California peers added $10,000 to its coffers this week.
Even as it increases its capital donation for an ailing San Francisco credit union, Patelco CU disclosed Thursday its community outreach programs have witnessed a 60% budget cut over the last three years.
In an extraordinary appeal, the $6.6 million Mission SF Federal Credit Union is asking CUs to donate funds to help restore its capital and forestall an NCUA-engineered merger or liquidation.
The head of American Share Insurance voiced confidence that Nevada's largest and long-troubled credit union, the $791 million Silver State Schools, can start showing a profit soon even though it missed the 2010 target.
Guest blogger Charles Bruen, CEO of First Entertainment Credit Union, questions the choice of Elizabeth Warren to head up the formation of the Consumer Financial Protection Bureau.
I was deeply disturb and disappointed at the letter that appeared in the July 7 issue from Charles Bruen, president/CEO of First Entertainment CU, voicing his views of the survival of small credit unions.
On May 20, I posted remarks on BRUEN Credit Union Blog (www.cbruen.com/blog) about the failure of a very small 213-member, $175,000-asset and, surprisingly, 50-year old credit union with a delinquency rate of 40%.