As consultants in the credit union movement, we often hear, “Our CEO is planning to retire in five years, and we haven’t put any kind of retirement program in place. What can we do now?”
Trade group says credit unions cite third-party vendor issues, fear that lending could slow or stop.
Sixteen state leagues merge in past six years.
Biz2Credit, a New York company that connects small business with lenders, discovered that scenario during its recent monthly analysis of 1,000 loan applications.
As the shutdown of the federal government entered its second week, private mortgage insurers alerted clients and potential clients they will insure mortgage loans if the Federal Housing Administration, operating with a skeleton crew, jeopardizes closing dates.
Private mortgage insurers have been alerting clients and potential clients they will insure loans whose closing have been delayed by federal shutdown.
The fight between the City of Richmond, Calif. and 624 mortgage lenders continues, as the city attempts to obtain the loans through eminent domain.
North and South come together in vote on Thursday, plan to launch merged association on Jan. 1.
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.