The $73 million, 9,500-member Bridgeway Federal Credit Union in Poughkeepsie, N.Y., has been recognized as a community development financial institution by the Community Development Financial Institutions fund.
Poughkeepsie, N.Y., credit union earns designation that will help its serve the underserved.
Notes payoff called important milestone in efforts to resolve the failure of five corporates.
CEO Vikram Pandit steps down, along with President/COO Michael Corbat on Tuesday, effective immediately.
Action covers four years of telemarketing add-on products.
State-of-the-art facility to treat bone and joint cases will open for business thanks to financing from HOPE Enterprise Corp./HOPE Credit Union.
Using the NCUA’s midpoint estimates of remaining corporate stabilization costs, CUNA Chief Economist Bill Hampel estimates it would take four more years of assessments similar to the 2012 rate of 9.5 basis points to pay off corporate losses.
CUNA economist says lowering, spreading out payments would lessen impact on bottom line; NAFCU says release funds from NCUSIF.
The 2012 Temporary Corporate Credit Union Stabilization Fund assessment of 9.5 basis points of insured shares will reduce annualized return on average assets for federally insured credit unions an estimated 8 basis points industry wide, to 0.81%, the NCUA said during its monthly board meeting July 24.
ALEXANDRIA, Va. — The 2012 corporate rescue fund assessment to reduce annualized return on average assets an estimated 8 basis points industry wide.