Every day, six days a week, a credit union closes and never re-opens. That has been going on for many years. More than 3% of credit unions have annually closed for the past decade. By 2025, the United States will have around 4,500 credit unions.
Do the math. Look to your right. Look to your left. One in three credit unions will vanish by 2025. Find out more in this week's preview from next week's print edition.
A New York-based investment banker said he’s noticed an uptick in his bank and credit union clients selling mortgages to the secondary market, especially when the loans aren’t performing.
A new analysis by Sandler O’Neill underscores how critical the sheer size of financial institutions has become to their surviving and thriving. Yet top performing credit unions are being held back by a systemic lack of accountability.
The merger game – its timing, procedures and practices – is coming in for new scrutiny and debate this month among a coterie of analysts and top credit union CEOs.
The proposed conversion of the $1.8 billion HarborOne Credit Union to a mutual bank triggered fresh industry debate last week about the impact and efficacy of conversions as the Brockton, Mass., CU formally tendered its resignation from CUNA and the Massachusetts Credit Union League.
Is conversion bid a sign of things to come? That's one point raised in this look at an article from next week's print edition.
Sandler O'Neill's Peter Duffy says deals most likely to be in real estate rather than account relationships.