And then there were 16. That is the current count of corporate credit unions, after a year where all the institutions faced an Oct. 20 NCUA deadline to qualify as “adequately capitalized” per the regulator’s calculus.
Reflections on the Mid-Atlantic - VACORP merger.
Mid-Atlantic Corporate Federal Credit Union and VACORP Federal Credit Union announced Monday that their memberships have approved the merger between the two organizations.
Mid-Atlantic Corporate Federal Credit Union and VACORP Federal Credit Union have announced that the NCUA unanimously approved their merger plan at the closed NCUA Board meeting in late October.
VACORP vote expected in November for merger to be finalized next March.
Asthe October deadline for hitting key minimum financial ratios draws nearer, more spreadsheets are floating around the credit union industry.
For those who thought there might be wiggle room in the NCUA’s willingness to tolerate a merger of Tier 1 corporates, unambiguous words came from Scott Hunt, director of the NCUA office of corporate credit unions, at a panel discussion about the future of corporates at the New Jersey Credit...
The member looking for a $30,000 line of credit or financing for a delivery truck–that’s the kind of small business owner Cross Valley FCU is actively courting.
Regulatory overreach, an unnecessary limit on credit unions' choices and possibly illegal. Those are among the critiques of the NCUA's proposed rule on corporate credit unions.
A merger with VACORP was not his first choice, said Mid-Atlantic Corporate FCU President/CEO Jay Murray in offering perspective on the announcement earlier this week that the two corporate credit unions planned to merge.