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.
Federal court convicts Makushamari Gozo of 18 counts of making a false claim and five counts of bank fraud involving cars and fuel.
On the surface, it might appear that a recent extension of the deadline for large employers to comply with providing health insurance under the Patient Protection and Affordable Care Act from 2014 to 2015, is a cause for relief. But some are not so sure.
The federal tax agency is responsible for overseeing corporate compliance with the affordability requirement of the PPACA.
GOP-backed measure would create the "National Mortgage Market Utility" regulated by FHFA.
"We compensate board members more out of a sense of fairness than anything else,” explained Lin Hodges, president/CEO of Associated Credit Union of Norcross, Ga.
Is loan regime split dollar snake oil or liquid gold? How is a board to know? If it works, LRSD is a powerful tool for compensating key executives and preserving credit union assets. If it doesn’t work, the costs to the credit union and the participating executives are high.
Part two of this analysis of credit union board compensation by Credit Union Times. From our July 10 print edition.
I’m very much what you see is what you get. I feel the need to forewarn bosses that I will always be honest with them, and occasionally more honest than I should be for self-preservation. I’m respectful about it and always do it for the right reasons, but there you...