The National Federation of Community Development Credit Unions is investigating whether and how it could use a federal bond program to help CDCUs boost their secondary capital by possibly millions of dollars.
The credit union industry has many leaders: Credit unions that excel at their business, credit unions that assist other credit unions, and volunteers who spend their free time sifting through inches-thick board packets.
"We are helping credit unions to survive during tough times," said Amy Rapp, a senior manager at Western Bridge Corporate Federal Credit Union.
Community development credit unions may receive less money on a per credit union basis from the U.S. Treasury's
The National Federation of Community Development Credit Unions worries that new NCUA examiners may not be trained in the issues particular to the CUs many will be sent to examine.
Though mindful of its weakened financial condition, the $6.6 million Mission SF FCU of San Francisco pressed ahead last week with industry fundraising to bring in a minimum $50,000 of capital to stave off a merger or liquidation.
Former D. Edward Wells FCU President/CEO Carol Aranjo has been banned forever from participating in the affairs of any federally insured institution, the NCUA announced today.
Issuing an unusual appeal, the ailing the $6.6 million Mission SF FCU has asked CUs to donate funds to help restore its capital and forestall an NCUA-engineered merger or liquidation.
Even as it increases its capital donation for an ailing San Francisco credit union, Patelco CU disclosed Thursday its community outreach programs have witnessed a 60% budget cut over the last three years.
The California and Nevada Credit Union Leagues recognized two community development credit unions for their community outreach efforts.