Suburban Boston credit union, in interview with local newspaper, explains next steps in proposed changeover to bank.
The $20 million Filene FCU is tied to the now-shuttered retail chain once operated by credit union pioneer Edward Filene.
Suburban Boston credit union says board gave go ahead Thursday night.
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.
The Massachusetts Division of Banks provided new legal detail Thursday on the notice by HarborOne CU on its plans to convert to a mutual savings bank this fall.
One conversion specialist said he sees more ready to make the switch.
Billion-dollar Brockton, Mass., CU posts notice on its website.
MAUI — After the NCUA came out with its board of directors regulation last year, the question arose as to where volunteers’ risk exposure had increased greatly.
I was disappointed that CUNA and NAFCU have taken the position that converting credit unions should pay future corporate stabilization fund assessments. I see this as an exit tax on credit unions. I see it as contrary to the principles of charter choice and free markets. I object to any...
Griffiths Savings Banks begins the new year as a branch of United Federal Credit Union of St. Joseph, Mich.