BOSTON - The Appeals Court of Massachusetts has reversed a previous court ruling and declared that the $128 million Postal Community Credit Union, headquartered in East Boston, Massachusetts, cannot change its charter to that of a mutual bank. The Court found that the Commissioner of Banks' argument that the Commonwealth's...

FEDERAL WAY, Wash. - Twenty-five credit union executives and officials from Washington state's Office of Minority and Women Business Enterprises (OMWBE) met on July 27 to discuss how Washington credit unions can reach underserved Hispanic populations. "Reaching out to bank the unbanked and serve the underserved is a priority of...

ARLINGTON, Va. - Three community development credit unions are among the very few credit unions to have been awarded support from the U.S. Treasury's Community Development Financial Institutions fund so far this year. The three, the $2.8 million Brookland FCU, headquartered in West Columbia, South Carolina; the $6.9 million Newrizon...

ARLINGTON, Va. - NCUA's proposed rule on conversion disclosures is unlikely to stop many interested credit unions from trying to change their charters, but it might make getting their members' approvals more difficult, according to various sources familiar with the current conversion process. At its July 22 meeting, the two-person...

VANCOUVER, Wash. - The $619 million Columbia Community Credit Union which was the subject of an extraordinary fight over a charter conversion earlier this year, will hold its annual meeting on September 15 at a local area high school, the credit union has announced. The credit union nominating committee has...

PHILADELPHIA - Community development financial institutions, including community development financial institutions, saw asset growth of almost double that of commercial banks between 2000 and 2002, according to a study by the CDFI Data Project. The Data Project is an effort of CDFI supporters, supported by Foundation grants, including the National...

JEFFERSON CITY, Mo. - The Missouri Farmers Union has filed with the state to charter a credit union "to offer an alternative to conventional or consolidated banking systems," the group said. The Missouri Farmers Credit Union will help alleviate lending barriers to young, new or entrepreneurial farmers who are being...

WASHINGTON - Credit union lobbyists were surprised July 15 when an unexpected amendment to an appropriations bill threatened to derail an important element of credit unions' outreach to Hispanic communities that they had thought secure. At risk is credit unions' ability to accept the so-called matricula consulars. The matricula consular...