“We cannot compete with the most liberal of state field of membership laws, nor do we seek to.” -NCUA Chairman Dennis Dollar regarding the recently issued proposal to expand federal credit unions field of membership rules. “Playing hardball with members who declare bankruptcy by taking away their access to credit union services might seem extreme, but when you consider the domino effect they could have on a credit union, you realize it’s not really an unreasonable action by the credit union.” -Kathy Thompson, SVP, Assistant General Counsel, CUNA, speaking on the need for CUs to develop tough bankruptcy policies. “We’re going to treat it as if it were a subsidiary. It will be much like a bank holding company.” -Honda FCU President/CEO Jim Updike commenting on the CU’s plan to create a separate state charter to hopefully serve Honda employees in other countries. “While there have been a number of incidents between the Region III NCUA staff and individual CDCUs, it would not be accurate to say that the region as a whole has been unsupportive of CDCU efforts.” -Clifford Rosenthal, Executive Director NFCDCU, when asked if NCUA’s Region III was on the whole less supportive of community development institutions.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.