The former board president of the $23.6 million Taupa Lithuanian Credit Union disputed statements made by another former board member to Credit Union Times, and provided new details about the failed credit union’s governance.
Taupa Lithuanian board president says fugitive CEO did not dupe board members, who received clean reports from auditors and examiners.
Vincas Urbaitis, a former board director of the now-shuttered Taupa Lithuanian Credit Union, said he has been doing a lot of thinking lately about how he and six board members were double-crossed by Alex R. Spirikaitis, their former CEO.
This preview from our Aug. 14 print edition looks at how board members of the failed credit union say they were misled by fugitive CEO.
The completely unscientific poll found that the majority of respondents appreciated the heads up.
Corporate One CEO confirms layoffs though not how many.
Southeast Corp didn’t meet its $75 million goal, but the amount members pledged - $68 million - was good enough for merger partner Corporate One.
The ability to raise capital continues to define the new corporate marketplace.
Thursday was deadline for corporate members to contribute capital in advance of planned merger with Corporate One.
Still suffering from the bite of losing all their Western Corporate FCU capital in 2009, credit unions report they are still capital shy when it comes to replacing corporate services.