Search
 

Sunshine State CU's Second Attempt and Marcy FCU's Filing Makes for Trio of Pending Conversions

ARLINGTON, Va. - Now there are three credit unions actively seeking to change their charters to those of mutual banks. The $24 million Marcy Federal Credit Union based in New York is the latest to file with the Office of Thrift Supervision late in June. According to NCUA, Marcy FCU...

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, Va. – Now there are three credit unions actively seeking to change their charters to those of mutual banks. The $24 million Marcy Federal Credit Union based in New York is the latest to file with the Office of Thrift Supervision late in June. According to NCUA, Marcy FCU has an asset ratio of 17.03%, significantly higher than its peer group and posted return on average assets significantly lower than its peers. Walter Kapinos, Marcy’s CEO, declined to comment in detail on the application, saying

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?

Trending Stories

 

Recommended Stories

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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.