RANCHO CUCAMONGA, Calif. — Leaders across credit union land are buzzing about the impact a merger proposition similar to the one issued by Wings Financial Federal Credit Union could have on the industry going forward.
Some are concerned that the lack of rules in place for "hostile takeovers" of credit unions could set the industry up for a free-for-all making the vulnerable defenseless to any unsolicited proposals. Others–reluctant to talk on the record–are quietly discussing whether such takeovers may actually benefit poor performing credit unions. (See poll on page 3.) California Credit Union League President/CEO Bill Cheney said the league will continue to support Continental FCU in its decisions.
"The league will remain vigilant with regard to this issue and do all we can to ensure the fair treatment of our member credit unions and their members," commented Cheney. "We are confident that our regulators will handle this situation with the utmost care to ensure a stable credit union environment."
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? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
