Hanscom Federal Credit Union, Hansom, Mass., announced that Kevin Reagan has been named assistant vice president of mortgage operations.
Wisconsin-based Royal Credit Union has finally completed its purchase of a large chunk of a troubled community bank's assets.
In more ways than one, the purchase by the $1 billion Royal Credit Union of 11 branches of an ailing Wisconsin bank represents an extraordinary and very positive precedent for CUs.
All three federal regulators with a say in the matter have given a green light of Royal Credit Union's purchase of a struggling bank's assets.
Credit unions absolutely can and should make mortgage loans, according to a longtime CU executive, but in order to do so they need to get serious about the product.