Credit Union Management

As the SBA gears up for its annual festivities honoring small businesses, credit unions could once again be among the candidates recognized for their lending efforts.

Large banks may be in survival mode now, but "once they get their TARP funds back" these competitors will become more challenging than ever to credit unions, former NCUA chairman Dennis Dollar warned California/Nevada CU leaders late Friday.

The troubled $851 million Arrowhead Credit Union of San Bernardino, Calif. is selling off five of its branches to the $3.9 billion Alaska USA FCU, it was announced Thursday.

As part of its cost-cutting over the last year, ailing Arrowhead Central Credit Union has cut its staff by a fifth to 400 and has shrunk its loan portfolio "way down" in three areas-autos, home equity and RVs, said Larry Sharp, president/CEO.

It may be difficult for the SEC to pinpoint if the latest round of Ponzi schemes involving retired bus drivers, the elderly and Cuban-Americans were credit union members.

If everything goes according to plan, the East River Development Alliance, a community development organization headquartered in Long Island City, N.Y., will open the first minority-owned credit union in the New York City borough of Queens this April.