It is countdown to an Aug. 31 deadline for United Resources, the new corporate that may rise out of Western Bridge, but there are plenty of signs that credit unions are looking for alternatives as the evidence mounts that the capital goal will not be reached.
Two ad hoc industry groups, one in Michigan and the other in Tennessee, that have been among the most vocal in lambasting NCUA policies on corporates, salaries and compliance all year, held firm in their critical stands again last week. And they issued new complaints.
Four of the agency's corporate bond issues lose AAA rating.
Takeover of bank may be first by a federally chartered credit union, its president says.
The Wall Street Journal dropped the bombshell: “Banks Hit for Credit Union Ills,” read the headline on an article reporting that the NCUA was in talks with a bevy of Wall Street powerhouses (Goldman Sachs, Merrill Lynch, Citigroup and JPMorgan Chase) about the NCUA’s belief that Wall Street banks sold...
A professor of law at Brooklyn Law School argued that credit unions should back the privatization of Fannie Mae and Freddie Mac, provided they can also ensure they get the same access to a privatized secondary mortgage market that banks would get.
When Congress returns, credit unions can expect fewer consumer bills, tweaking the financial overhaul bill and new leaders of House and Senate committees that oversee credit unions.
Despite a $5 billion retained members' deficit, Western Corporate FCU posted the corporate system's second highest term deposit rates Aug. 9, offering 0.74% for a two-year certificate.
NEW ORLEANS -- If a $1 billion credit union used a series of advances to fund a $100 million investment in new 15-year mortgage pools, it could add as much as $600,000 to interest income in the first year.
New Orleans -- If a $1 billion credit union borrowed $100 million in strategically laddered advances, and invested those funds in low-risk mortgage pools, it could add as much as $600,000 to interest income.