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Did A Massive Multistate Credit Union Just Kill Off Another Small Community Bank?

$1.7-billion Advia CU here announced it intends to buy $155-million Golden Eagle Community Bank in Woodstock, Ill. The deal, which still awaits bank shareholder and state and federal regulatory approv...

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Is NCUA on Permanent Vacation?

If you’re driving on a freeway and know there won’t be a cop for miles, will you follow speed limits anyway? Maybe not. And if you run America’s second largest credit union and know the cops either ar...

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IRS Revokes Credit Union Tax Exemption After “Unsafe and Unsound” Practices

The IRS has revoked the tax-exempt status of a financially troubled California credit union. The Jones Methodist Church Credit Union in San Francisco, chartered in 1953 for its members who were being ...

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Large Credit Unions Are Crushing Small Credit Unions & Community Banks

Did you know that just 5 percent of the ENTIRE credit union industry enjoys 75 percent of the tax exemption benefits? And it’s not the little guys who play by the rules and adhere to their original mi...

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Are Credit Unions Practicing Predatory Lending?

Senator Elizabeth Warren (D-MA), who is no friend of big banks, recently asked a simple question: should credit unions have to adhere to the Community Reinvestment Act (CRA)? According the Office of t...

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CUNA Launches $7 Million Taxpayer Subsidized Political Campaign to Ensure They Continue NOT Paying Federal Income Taxes

CUNA has officially launched the first wave of their taxpayer subsidized political campaign. The $1.8 million spend, part of a larger $7 million taxpayer subsidized campaign, is a kickback to members ...

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Credit Union Gouges $13/hr Employee with $800 Fees in One Month

Working as a dishwasher at the Philadelphia Marriott Downtown, Amos Troyah made about $30,000 in a recent 12-month period. Roughly $2,000 of it was spent on an especially frequent expense: fees on his...

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PenFed Expansion Into the Ad Business Means More Profits and Less Taxes

Earlier this month, PenFed announced its “acquisition of the award winning, independent marketing services agency WHITE64.” Unsurprisingly, the price of the deal was “undisclosed.” You may not have he...

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Elizabeth Warren: Time to Hold Credit Unions Accountable

Credit unions were born to provide financial services to people of modest means. Today, however, credit unions serve fewer low income households than traditional banks – a clear sign that they have ev...

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Revisiting the Federal Credit Union Act

We all recognize the jingle: “PenFed’s Got Great Rates for Everyone”. We’ve seen the names of various credit unions plastered across our professional baseball and football stadiums — $120 millio...

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