News

PITTSBURGH - The $115 million U$X FCU which was started in 1938 for general office employees of U.S. Steel Corp. has always operated with large amounts of capital and president David R. Ackerman says it's been a good strategy to be "thrifty." The CU has been operating with 1% ROA...

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...

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...

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...

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...

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....