Smaller Jacksonville credit union to get members, two branches and other assets from $3 billion Space Coast in market move approved by NCUA, state.
A loan participation suit filed two years ago against the defunct Eastern Financial Florida Credit Union to recoup millions in losses will not include Space Coast Credit Union, a federal court recently ruled.
Federal court says not enough merit to proceed in case over participation loan losses.
In a case that has ties to one of the industry’s largest mortgage scams, Sperry Associates Federal Credit Union received a ruling in its favor over losses the financial institution said it suffered behind the scheme.
Federal court in New Jersey had ruled in favor of credit union in suit over fraud loss coverage.
New Jersey case involved a CUMIS fidelity bond and whether fraud committed by two mortgage companies impacted coverage.
With the decline in vehicle loans expected to be a drag on overall loan growth well into 2012, credit unions may be searching for even more ways to boost revenue.
A newly launched firm is aiming to drive more business to credit unions and auto dealerships and provide discounts to members.
Sperry Associates Federal Credit Union has named James Duffett its new president/CEO.
Nearly eight months after the NCUA and Sperry Associates Federal Credit Union entered into a letter of understanding and agreement, the cooperative has named James Duffett as its new president/CEO.