Mission SF Federal Credit Union of San Francisco has lost its battle to stay independent.
A Members Group white paper, Missouri reaccreditation and the CDFI Fund all made news this week.
The industry debate over the propriety of the public campaigns of small, deeply troubled inner city credit unions to raise capital among other CUs and the citizenry has generated lively and sometimes strident rhetoric.
Even as the economy improves, foreclosures remain a problem for many lenders–but not the National Federation of Community Development Credit Unions.
NFCDCU President/CEO Clifford Rosenthal calls the Mission SF FCU liquidation an example of regulatory excess.
The Community Development Financial institutions Fund said it should soon know how the latest budget compromise will affect its funding.
The ailing $6 million Mission SF Federal Credit Union of San Francisco was seized over the weekend by NCUA and awarded to Self-Help FCU of Durham, N.C.
Credit union mortgage organizations and trade associations are casting a wary eye on a proposed regulation meant to encourage issuers of mortgage-backed securities to use safer mortgages to back their bonds.
PHILADELPHIA — “You know that line about ‘if you build it, they will come?’” asked Oscar Torrealva, branch manager at the $1.3 billion TruMark Financial Credit Union's branch in the financially strapped Eastern North Philadelphia.
Changing economic circumstances among its members have led yet another mainstream credit union to the realization that it has effectively become a community development credit union.