Monterey Credit Union's attempt to convert to a bank signaled the credit union industry could see more taking the same course, some industry participants say.
Monterey executives confirmed July 22 the $209 million California credit union sent ballots to its members asking them to approve a credit union to bank charter change.
Meanwhile, regulators that would have to approve the conversion said they have not yet received an application from the credit union.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
NOT FOR REPRINT
© 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.
