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Former CEO of Melrose, Failed Taxi Medallion Credit Union, Charged with Bribery by FBI (*Not the NCUA*)

The NCUA (National Credit Union Administration) has failed members and taxpayers yet again (we know we’re starting to sound like a broken record, but someone needs to call it out). Alan Kaufman, CEO o...

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New Research Shows Credit Unions are Failing – CU Leadership Continues to Point the Finger Elsewhere

Federal Financial Analytics and acclaimed researcher Karen Shaw Petrou earlier this month released a new report titled “The Credit-Union Equality Commitment: An Analytical Assessment.” This report ana...

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Credit Unions’ Acquisitions of Banks in 2019

According to an advisor who specializes in credit union acquisitions of banks (yes, they’ve become so common that someone can now build an impressive career in overseeing them), a “magic moment” of cr...

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NCUA’s Reckless Cybersecurity Standards Put Members at Risk

And the hits keep coming for the credit union industry regulator. Turns out the NCUA Inspector General has had a very busy couple of years. Shortly after the release of its 2018 Material Loss Review, ...

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Financial fraud concept

$40 Million in Member Funds Down the Drain. NCUA: Sit Up and Take Notice

The first credit union failure of the year has occurred – and while we may have seen it coming, the National Credit Union Administration apparently (again) did not. In late March, NCUA announced the l...

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spacious penthouse living room with floor to ceiling windows and modern furniture

‘Nonprofit’ Maine Credit Union Selling $2 Million Luxury Condo

One credit union here has an unusual item for sale: a $2-million condominium. cPort Credit Union has listed a luxury condo on the top two floors of its newest branch in Portland’s East End. The 2,5...

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Credit Unions Soar Away From Their Mission….with Airplane Loans

Looking to buy your own personal plane? Yeah…me neither. But for those of us who are, credit unions have you covered! A recent report by CU Journal revealed that credit unions in states such as Florid...

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Credit Unions’ Top Priorities on the Hill in 2019? Killing Transparency, Preserving Millionaire Compensation

No shame in the credit union industry’s game. Earlier this week, Jim Nussle, president and CEO of the Credit Union National Association (CUNA), one of the largest industry trade groups, sent a letter ...

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Here’s What You Missed at the CUNA Governmental Affairs Conference

On March 10-14, the Credit Union National Association (CUNA) hosted its annual Governmental Affairs Conference in Washington, DC. Sorry you missed it? We’re happy to provide a review of the highlights...

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VyStar Shoots for Meteoric Growth at Taxpayer Expense with Small Bank Purchase

Never-ending acquisitions for large, federal income tax-exempt credit unions! In yet another attempt to grow at “no speed limits,” a massive credit union has used its taxpayer-backed dollars to purcha...

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