The 87,000 member, $1 billion Meriwest Federal Credit Union, based in San Jose, Calif., has won a grant of $160,000 to help finance affordable housing in its community from the Federal Home Loan Bank of San Francisco.
Credit union finds FHLB a source for development funds.
The Great Depression and the decades leading up to it forced many to look beyond their comfort zones just to be able to survive another day.
A co-conspirator in the business lending kickback scheme that led to the collapse of AEA FCU has been sentenced to 24 months in prison.
In the latest update involving AEA Federal Credit Union, a judge has rejected claims from a real estate developer that the NCUA-conserved cooperative is still responsible for funding his projects.
A judge has rejected claims from a real estate developer that the NCUA-conserved AEA Federal Credit Union is still responsible for funding his projects.
Prosecutors recommend developer get year in prison, probation after testifying against former credit union lending officer.
In a case of breach of contract, a judge has awarded a real estate developer $75.4 million judgment against Delta Community Credit Union.
Two major credit union cases involving business loan fraud made news over the past week.
More details have emerged on how the alleged failed transactions involving Delta Community Credit Union led to a judge awarding $75 million to a developer.