The proposed conversion of the $1.8 billion HarborOne Credit Union to a mutual bank triggered fresh industry debate last week about the impact and efficacy of conversions as the Brockton, Mass., CU formally tendered its resignation from CUNA and the Massachusetts Credit Union League.
Is conversion bid a sign of things to come? That's one point raised in this look at an article from next week's print edition.
The $360 million Connexus Credit Union is carving out a special merger path in its central Wisconsin hometown by consolidating two of its smaller competitors.
GFA FCU will seek regulator approval to buy bank in Granite State, just weeks after Michigan credit union completes purchase of Indiana bank.
Baltimore-area CU said more than 5,000 members voted and 58% approved.
Marking its second merger bid in two weeks, Connexus Credit Union of Wausau, Wis., said members of $45 million Tower CU approved its offer.
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.
In a statement, the league stressed that it is important for credit unions to consider the interests of their members first and foremost.
Two brothers arrested, charged in financing fraud case.
A lawsuit filed more than three years ago arising from a dispute over a credit union to bank charter change attempt is still dragging on through the Texas courts and promising depositions of many involved in the charter change business.