Committed to Educating the Public About Today's Credit Unions

News and Insights

edited explore

The Top Five Reasons Why Congress Should Review Credit Unions

Shop Therapy: A Bank Buying Bonanza Large credit unions have been gobbling up smaller credit unions by the dozen, with 187 acquisitions last year, according to the Wall Street Journal. With fewer t...

Read More
edited

Military Personnel Deserve Financial Choice

We all know the sacrifices made each and every day by our men and women in uniform to defend our freedom. Shouldn’t we, in turn, ensure their freedom to select the best financial services to fit their...

Read More
bankshot podcast

Three Key Takeaways from the American Banker Podcast, “Bankshot.”

In a recent podcast, American Banker’s John Heltman explored the lax rules governing credit unions that are aggressively growing, increasingly involved in riskier lending, and lacking in transparency ...

Read More
shutterstock_710867164

Wall Street Journal: Credit Unions Go On Bank Buying Spree

Lalita Clozel of the Wall Street Journal reports: WASHINGTON—Credit unions are buying small banks in record numbers, a trend that is prompting pushback from the banking industry. Credit unions have a...

Read More
Taxis waiting in line at the airport

Credit Union Times: Taxi Fallout Tests CUs’ Reputation

David Baumann reports for the Credit Union Times: Credit unions like to paint bankers as greedy – working for their shareholders rather than their customers. Credit union leaders, they have said, are...

Read More
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 2,570-...

Read More
acquisition image

PenFed Acquires Progressive

From Jim DuPlessis at Credit Union Times: PenFed announced Wednesday that it has acquired Progressive Credit Union, a New York City-based credit union that has suffered heavy losses because of its tax...

Read More
Stack of files and paperwork

While Other Nonprofits Struggle with Reporting Responsibilities…Credit Unions Get Off Scot-Free

The Treasury Department is trying to blunt the impact of an unpopular new tax on churches and other nonprofits. The agency released interim regulations today spelling out exactly how the tax...

Read More
Kam Wong Municipal credit union embezzelment

Kam Wong Pleads Guilty to $9.8 Million Embezzlement: Prosecutors also say the former CEO obtained drugs from supervisory committee member.

In June 2018, Municipal Credit Union CEO Kam Wong was charged with embezzlement and accused of using members’ money to maintain a lavish lifestyle, despite already earning a $2 million salary. F...

Read More
credit unions not paying taxes

After Failure of Six Large Credit Unions, NCUA’s Share Insurance Fund Drops by Nearly $750 Million

Fueled by the failures of six credit unions this year, the NCUA’s Share Insurance Fund reserves had dropped $744.9 million by the end of the year’s 3rd Quarter, agency officials said Thursday. Despite...

Read More
Top