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Some CUs Choose Higher Capital to Prepare for Different Rainy Days

By Staff Writer

ARLINGTON, Va. - Edinburgh Teachers CU wants to keep a high capital level to shield its members from eventual taxation. "We have deliberately sought a strong capital position because we consider that inevitably credit unions will be taxed," explained Jeff Moats, CEO of Edinburgh Teachers Credit Union, a $62 million...

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Capital Must Be Spent Down for Future Existence, CU Realizes

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Despite High Capital, U$X FCU Gives Plenty Back, Says CEO

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July 11, 2006

Toronto Ethnic Credit Unions Are Going Strong

TORONTO - Ethnic credit unions serve a special niche market wherever they operate. The Toronto area has nine such credit unions: Estonian Credit Union, Finnish Credit Osuuspankki Union, Parama Lithuanian Credit Union, Polish Alliance (Brant) Credit Union, Portuguese Canadian Credit Union, Slovenia Credit Union, Taiwanese Credit Union, Ukrainian Credit Union...

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July 11, 2006

CEOs From Very Different Types of CUs See Issue the Same

SAN ANTONIO - Jeffrey Farver, president/CEO of the $1.9 billion San Antonio Credit Union in Texas, believes the cooperative model has not changed since the 1930s when farm co-ops were first formed for farmers who needed to join together to market their farm products. "It was people helping people in...

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July 11, 2006

Profitability Raises Capital at Progressive CU

NEW YORK - Because it focuses a lot on larger business loans-namely taxi medallions-Progressive Credit Union has grown its capital to be the highest in the country through repetition and scale. "It isn't necessarily that credit unions choose to carry so much capital so much as a function of: We're...

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July 11, 2006

Capital Served to Buffer CU Against Uncertain Future

FLINT, Mich. - Marty Smith, CEO of the $317 million Dort FCU said his CU had chosen to accumulate the additional capital to serve as a hedge against what may be an uncertain automotive future. "We have had a history of generating strong returns," Smith said, speaking of the 55...

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July 11, 2006

Noce Says High Capital for Energy is Just Fine

WALTHAM, Mass. - Having capital of 20.98% ranks Energy CU 30th among CUs in the category. But rather than considering the level too high, the $75.3 million CU is perfectly comfortable with it. In fact, says President/CEO Paul Noce, "We've been fortunate to be able to accumulate so much capital....

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July 11, 2006

High Capital Not Unusual for LOMTO FCU

NEW YORK - Under other circumstances, Richard Kay might consider LOMTO FCU's 21.04% capital-to-assets ratio high. But considering virtually all of the $111.2 million CU's loan portfolio is made up of small business loans, the president/CEO doesn't think so. "It's a good position to have a high capital level in...

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July 11, 2006

Empire and Mid-States Complete Merger Deal

ALBANY, N.Y. - Calling it the creation of a new "top-tier corporate," Empire Corporate and Mid-States Corporate announced that their merger was finalized on June 30. The new Members United Corporate has $9.5 billion in assets and serves 2,100 credit unions. Joe Herbst, former CEO of Empire, will lead the...

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Top News Stories

Some CUs Choose Higher Capital to Prepare for Different Rainy Days

Capital Must Be Spent Down for Future Existence, CU Realizes

Despite High Capital, U$X FCU Gives Plenty Back, Says CEO

Recommended Just For You

News Stories

Toronto Ethnic Credit Unions Are Going Strong

CEOs From Very Different Types of CUs See Issue the Same

Profitability Raises Capital at Progressive CU

Capital Served to Buffer CU Against Uncertain Future

Noce Says High Capital for Energy is Just Fine

High Capital Not Unusual for LOMTO FCU

Empire and Mid-States Complete Merger Deal