Hard on the heels of a report suggesting that credit unions are unlikely to be able to offer payday loan alternatives, a religious group in Utah is criticizing the short-term, low-dollar loans that state's CUs offer.
With a rise in foreclosures and delinquency filings, Utah apparently has become a late blooming sand state,
As its former CEO, Gordon Dames took Mountain America Credit Union from a cooperative grappling with a $560,000 loss when he took the helm in 1991 to a $2.5 billion financial institution.
Utah, a late bloomer on foreclosure and delinquency filings, has apparently become the latest sand state, the head of the Utah League of Credit Unions said Wednesday.
With its NCUA Utah merger deal under its belt, the $1.5 billion Chartway Federal Credit Union of Virginia is still bent on scouting out more struggling CUs in the West and Midwest for possible acquisition.