-
January 30, 2013
CEFCU, Peoria, Ill., announced that a record extraordinary dividend of $9 million has been distributed to CEFCU members. The dividend was based on members’ savings and loan activity during, with $4.5 million going to borrowers and $4.5 million going to savers.
-
By Robert McGarvey |
October 1, 2012
The email from a usually voluble credit union executive who had been asked to comment on the secrecy that surrounds compensation of top managers at federally chartered credit unions said, “Too touchy of a subject for me. Sorry.”
-
By Robert McGarvey |
April 15, 2012
Go big or go home. Those five words outline exactly what is happening with the proposed merger of $1.8 billion Warrenville, Ill.-based Alloya with $1.5 billion Southfield. Mich.-based CenCorp. It’s a marriage of corporate credit unions that, if approved by CenCorp members and regulators, will produce an entity with assets...
-
By Robert McGarvey |
April 13, 2012
Proposed corporate merger would produce one of the nation's largest remaining corporate credit unions. Find out more in this preview from next week's print edition.
-
By Robert McGarvey |
January 5, 2012
Corporate leaders had mixed reactions to this week's report from the GAO critiquing the NCUA's handling of the corporates crisis.
-
By Robert McGarvey |
December 18, 2011
The email from the NCUA to current Western Bridge members summed it up.
“The National Credit Union Administration Board awarded Catalyst Corporate Federal Credit Union (Catalyst) the exclusive right to acquire Western Bridge Corporate Federal Credit Union (Western Bridge).”
-
By Robert McGarvey, Claude R. Marx |
December 18, 2011
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.
-
By Robert McGarvey |
November 20, 2011
There may be only four or five corporate credit unions within 10 years. There isn’t that much business out there. "The small won’t survive,” predicted John Fiore, CEO of Motorola Employees Credit Union and a key figure in the recapitalizing of Members United as Alloya. “Within a couple years we...
-
By Robert McGarvey |
September 23, 2011
New corporate expects to begin operating on Oct. 24.
-
By Robert McGarvey |
August 31, 2011
Commitment from hundreds of small credit unions pushed new corporate over the top.
