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$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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‘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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CFPB Who?

By growing at “no speed limits,” large credit unions have injured countless numbers of consumers on the road. The industry continuously ignores rules established by the Consumer Financial Protection B...

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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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10 Questions We Would Have Asked NCUA Board Nominees

Last week two new NCUA board nominees, Todd Harper and Rodney Hood, were questioned on the direction of the credit union industry by the Senate Banking Committee in their confirmation hearing. Banking...

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Valentine’s Day Shot/Chaser: A Trade Association and Its Regulator’s Love Story

Shot: “One of the National Association of Federally-Insured Credit Unions’ key regulatory priorities is to promote a strong, independent National Credit Union Administration.” [https://www.cujournal.c...

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Everything’s Bigger in Texas…Now Including PenFed

After an 18-month search over 100 cities in all 50 states, PenFed has finally decided where it will establish its $48 million, 300,000 square feet regional financial center: San Antonio! Never mind th...

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