Heather Anderson’s Oct. 2 article, The Lowdown on Serving Low-Income Populations: Executive Editor’s Column, presented an honest and unbiased view of the challenges in providing financial services to less-affluent members of society: the population the credit union movement came into existence to serve.
Of the 2,000 credit unions located in the path of Hurricane Sandy, 838 were unable to operate, in varying degrees, during the difficult days following the super storm, according to the NCUA. And it took nearly a full week before most of those credit unions were be back in business...
The aftermath is “unthinkable devastation” said New Jersey Gov. Chris Christie when describing the massive destruction left behind by Hurricane Sandy that blasted the East Coast in the evening of Oct. 29. The monster storm caused massive flooding throughout New Jersey, New York and Connecticut, igniting fires that destroyed...
Credit unions across the greater New York City area suffered a wide variety of different damage from the superstorm and with different levels of response.
Thanks to funding from Bethex Federal Credit Union, a member was recently able to purchase the building that houses South Bronx businesses.
Despite income and compliance hardships, faith-based credit unions in Illinois are embarking on a turnaround, according to the leader of an Illinois Credit Union League campaign to uplift their standing.
The industry debate over the propriety of the public campaigns of small, deeply troubled inner city credit unions to raise capital among other CUs and the citizenry has generated lively and sometimes strident rhetoric.
Issuing an unusual appeal, the ailing the $6.6 million Mission SF FCU has asked CUs to donate funds to help restore its capital and forestall an NCUA-engineered merger or liquidation.
In an extraordinary appeal, the $6.6 million Mission SF Federal Credit Union is asking CUs to donate funds to help restore its capital and forestall an NCUA-engineered merger or liquidation.
The U.S. Treasury Department's Community Development Financial Institutions Fund has announced it will make almost $13 million available to qualified community development credit unions.