Credit Union Management

When Visions Federal Credit Union rolled out its trust services program in 2004, the litany of bank mergers happening at the time helped the financial institution offer an alternative to frustrated customers.

This Thanksgiving will mark 14 years since a pivotal no-action letter from the Securities and Exchange Commission put in place requirements for networking broker-dealers from customer disclosure to the actual location of a firm's securities activities emerged and would eventually have a huge impact in the credit union industry.

While not advocating for private primary deposit insurance, NASCUS in a recent letter did support a state's right to determine whether or not to allow for it.

Maine credit unions recently scored a win when a Maine Supreme Court ruling allowed them to offer interest on lawyers trust accounts despite opposition from the state's bar foundation.

When asked about recent opinion pieces published in credit union publications, including Credit Union Times, regarding a CUNA-NAFCU merger, Becker said two reasons for maintaining NAFCU jumped into his mind.

NAFCU President/CEO Fred Becker told MACUMA luncheon attendees he felt there was some confusion over NAFCU's positions on disclosures in mutual savings bank conversions and executive compensation in mergers.