One year after converting to a bank charter, HarborOne is not as profitable as hoped.
As written, the NCUA's risk-based capital rule tilts the playing field toward banks.
CEO Jim Blaine says the NCUA's risk-based capital proposal could make a bank charter better for members.
OmniAmerican Bank, which converted from a credit union charter in 2005, attempts to merge into a larger Texas bank.
Some members of a Maryland credit union are trying to join the board and protesting a management decision to hold the May 17 annual meeting at a Virginia country club.
Two members of the $370M Maryland credit collect signatures to add their names to annual meeting board ballots.
Payment, charter and capital issues among topics at world meeting.
Rhode Island community bank was credit union until 2009 conversion to mutual charter, now seeking further charter change.
Richard S. Garabedian, a Washington attorney who specializes in credit union charter conversions, doesn’t think HarborOne Credit Union’s conversion to a state co-operative bank, approved by its members last Monday, will trigger a wave of credit union charter conversions.
Industry observers point to credit unions buying banks, note that Boston conversion involves unique state charter.