Former CU Times Trailblazer CEO of the Year Bert Hash recalls how his then-bold decision to purchase a bank paid off for members.
Symbionce Financial Solutions had 478% growth between 2010 and 2013.
In a case that has ties to one of the industry’s largest mortgage scams, Sperry Associates Federal Credit Union received a ruling in its favor over losses the financial institution said it suffered behind the scheme.
New Jersey case involved a CUMIS fidelity bond and whether fraud committed by two mortgage companies impacted coverage.
Michael McGrath, the former CEO of CU National Mortgage, was sentenced to 14 years in prison today for his part in a scheme which saw some credit union mortgages fraudulently sold on the secondary market.
Some of the more than 20 credit unions that suffered losses when a vendor executive fraudulently sold mortgages written to Fannie Mae have made progress in getting at least some of their money and mortgages back.