This online only article accompanies the comprehensive looks at the year gone by in the Dec. 21 Year-in-Review print edition of Credit Union Times.
I enjoyed reading the letter from Robert J Larison, who was the CEO of Atlantic Coast FCU and then converted to a mutual savings bank [Nov. 9 issue, page 10]. His letter reminds me of Flip Wilson's character Geraldine, who always said, “The devil made me do it.”
Credit unions should set aside between 8 and 11 basis points for next year’s assessment to pay for the corporate credit union rescue, NCUA Chairman Debbie Matz advised last week.
Technology CU members will determine what they want in their CU's future; Bank of America has fiduciary duty to recoup interchange losses.
The board of directors of $1.5 billion Technology Credit Union has written the CU's 74,000 members that they may be better served by converting the credit union to a bank.
When Technology Credit Union posted its announcement that it was exploring a conversion to a mutual savings bank, CUNA and the California Credit Union League made some noise. CUNA CEO Bill Cheney said his organization feels credit unions are the best providers of service to consumers.
There would appear to be disproportionate anguish in some credit union circles about the recent announcement that Technology Credit Union is considering changing its charter to that of a mutual savings bank.
San Jose CU says change would enable expansion of more profitable commercial lending business.
If more credit unions leave the NCUSIF, can the NCUA take steps to minimize the impact on those that remain?
Inspector General report says loan losses, investment concentrations doomed liquidated CU.