The $209 million California credit union cites limits on business lending as its reason to leave the credit union fold.
The credit union will provide money to the Housing Trust Silicon Valley, a self-sustaining effort that provides low-cost loans to developers.
If the roughly 73,000 members of Technology Credit Union, a $1.5 billion institution headquartered in San Jose, Calif., vote to convert to a mutual bank charter, they will likely find their increased expenses not restricted to taxes alone, according to CUNA Chief Economist Bill Hampel.
Advantis Credit Union, Portland, Ore., helped address the Portland area's need for nonperishable, high-protein foods for hungry families and children. The credit union raised $7,300 in cash contributions and encouraged