Tom Nix, who sold his family financial services business to Kinecta FCU in 2007, shares details on the deal and his eventual departure.
In a new tell-all book, the former owner of Nix Check Cashing details his experience with Kinecta Federal Credit Union.
Glouberman has served as general counsel since April 2008 and will oversee all legal and enterprise risk management functions.
More than a quarter million people now belong to Kinecta FCU, the $3.3 billion California credit union has announced.
The $3.1 billion Kinecta Federal Credit Union and the $1.1 billion NuVision CU on Thursday called off what would have been the nation’s second-largest merger of credit unions.
California’s $3.1 billion Kinecta Federal Credit Union, party to a delayed mega-merger with the $1.1 billion NuVision CU, is in recovery mode this month, tending to a battered mortgage portfolio.
The 227,000-member Kinecta Federal Credit Union has become one of the financial institutions that Fannie Mae has authorized to provide mortgages to the purchasers of Fannie’s HomePath properties.
Stressing that "not all credit unions are suffering," a group of Los Angeles CUs did media damage control after an article in a local business journal highlighted poor credit union performance.
The boards of the $3.5 billion Kinecta FCU and $1.2 billion NuVision FCU have announced their intent to merge into an institution that will serve 300,000 members in two Southern California counties.