Now there are two large credit unions, the $1.8 billion HarborOne Credit Union of Brockton, Mass., and the $1.5 billion Technology CU of San Jose, Calif., making plans to convert to mutual bank charters.
"Cooperative bank charter" may exist only in Massachusetts law; CEO says "we have to compete with everyone in the market."
In a statement, the league stressed that it is important for credit unions to consider the interests of their members first and foremost.
Boston attorney tells state league seminar that poster-posting rule now put off until April 30.
New labor rules cover credit union employees too, lawyer says.
David Cotney says growing state-federal cooperation can help ease regulatory burden on credit unions.
It’s been four years now since lawyers from CUNA and the American Association of Credit Union Leagues drafted a so-called "Model Credit Union Act" for implementation by the leagues. But the 2011 project is off to a quick start with bills ready for introduction in several state legislatures.
Douglas J. Petersen, who became the interim CEO of the $800 million Workers' Credit Union of Fitchburg, Mass. in December following the sudden departure of its veteran head, Frederick D. Healey, has been promoted to the permanent CEO slot.
The $800 million Workers' Credit Union of Fitchburg, Mass., said Friday it has promoted Douglas J. Petersen, its interim president/CEO, to permanent status.
Last month, the Credit Union Community Hope Initiative presented the Massachusetts Coalition for the Homeless with a check for $125,000, representing funds raised by the credit