WEST PALM BEACH, Fla. – Credit unions converting to bank charters has been one of the most controversial news stories of the last year. The battle at Columbia Community CU, the NCUA Board’s recent final rule on member disclosures, and the potential largest CU-to-bank conversion ever in the $964 million Lake Michigan CU have all helped fuel the controversy. Some in the industry are concerned that credit union directors and management are more concerned about profiting from the conversion, rather than doing what’s best for the membership. Others say that’s just not the case; credit unions are converting for capital reasons and to grab more powers. The latest Credit Union Times’ voting poll question asks whether or not individual profit is playing a role in credit unions converting to banks. The question is as follows: “Do you think the potential for individual profit is at all playing a role in the decision making process of the directors and upper management of credit unions who have decided to convert to a bank?” * Yes * Not Sure * No

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 © 2022 ALM Global, LLC. All Rights Reserved.