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CUs Can Gain From Calif. IOU Bank Blunder

The Golden One Credit Union President/CEO Terry Halleck said she's not worried about accepting state-issued IOUs even though major banks have said they'll stop cashing them for customers Friday.

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The Golden One Credit Union President/CEO Terry Halleck said she’s not worried about accepting state-issued IOUs even though major banks have said they’ll stop cashing them for customers Friday.

Halleck said she believes major banks are “simply posturing with the state to keep their options open,” and despite their threats, will continue to accept the warrants to maintain existing customer relationships.

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