Since meeting with credit unions and banking groups in North Carolina a year and a half ago, microlending bank Grameen America Inc. has pulled back but not abandoned the idea of pursuing a credit union charter.
The $21 billion State Employees' Credit Union said it would still assist with office support to a microlending bank should it move forward with a credit union charter in North Carolina.
Although there has been little movement since buzz started more than a year ago, micro-lending bank Grameen America Inc. said pursuing a credit union charter is still being considered.
The National Consumer Law Center has charged that certain credit union payday loan alternative products are little more than payday loans sold under a credit union label.
Does a payday loan alternative program have to be unprofitable to be good for members?
One and a half million North Carolinians, who are members of State Employees' Credit Union, have $175 million on deposit at the NCUA with the NCUSIF. This deposit is owned by SECU members and is fully refundable.
Workers' Credit Union, Fitchburg, Mass., elected Eric D. Shapiro, Patrick L. Muldoon, Raymond J. Martino and Melissa Maranda as new members to its board of directors.
As executive compensation is made increasingly public, and credit union professionals become privy to what their colleagues earn, they're sharing the information with each other and the press.
Through its IRS Volunteer Income Tax Assistance program, State Employees' Credit Union said it helped members receive $52.8 million in refunds and saved them $5.4 million in preparation fees this past tax season.
More than 40,000 members have signed up for electronic alerts from North Carolina's State Employees' Credit Union in the first days of its offering, and another 3,000 or so have signed for two-way text messaging.