In its latest assault on credit unions' the tax exemption, the banking lobby has seized on a suit filed by the NCUA to recover losses in a 2009 Nevada credit union failure as evidence CUs are handing out loans to nonmembers on a broad scale.
The financial crisis and recession had increased uncertainty about the safety of financial institutions. In addition, credit unions are generally less visible than banks.
Credit unions portray themselves on Capitol Hill as well-managed, conservative financial institutions. It's not clear whether the necessity for the NCUA to rescue several corporate credit unions will change that reputation.
The quandary of just how credit unions grapple with the new corporate structure and ensure service access from providers occupied the highest levels of industry leadership this week.
ALEXANDRIA, Va. -- The NCUA has given all corporates new examiners, made more use of outside experts and begun to hire payment system specialists.
A defaulted $1.5 million loan apparently made to non-members is firing up bankers' tax exemption talk.
Texas credit unions are wasting little time to make their views known to the NCUA about the shape of the corporate system and servicing dilemmas.
The NCUA has begun backing down staffing levels at Western Bridge Corporate FCU, the agency confirmed for Credit Union Times.
The three corporate credit unions placed into conservatorship Sept. 24 bring the total of seized corporates to five. Operations will continue at all five corporates.
As the birth of a new corporate credit union model emerges, the CUSOs owned by the three corporates that were recently placed