The Colorado State Banking Board today denied the sale of a Colorado community bank to one of the state’s largest credit unions. The board found that the deal—in which Boulder, Colorado-based Elevations Credit Union would purchase the assets of Cache Bank and Trust, headquartered in Greeley—did not meet the requirements of state law.
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In a letter to the National Credit Union Administration today, the American Bankers Association reiterated its strong opposition to two proposed amendments that would further expand the already loose fields from which credit unions can draw their customers
Tax-exempt credit unions—which have seen significant growth in the years since the financial crisis—are increasingly “using their newfound financial heft to compete aggressively for business” against taxpaying banks, according to a Wall Street Journal article published today.
For the first time in the history of the American Customer Satisfaction Index survey, customer satisfaction with banks exceeded satisfaction with credit unions, according to ASCI.
ABA Chair Laurie Stewart brings unique experiences to her role as a bank CEO and advocate, and sharing them can help make a difference for the industry.
As part of the National Credit Union Administration’s 2020-21 budgeting process, NCUA Board Member Todd Harper is requesting public comment to his proposal to create a dedicated consumer compliance examination program for larger and more complex credit unions.
In her first remarks as chairman of ABA today, Laurie Stewart pledged to be a persistent advocate for diversity and inclusion in financial services, as well as for a level playing field between banks and credit unions.
Meet Puget Sound banker Laurie Stewart, who is chairing ABA in 2019-20.
A majority of Americans across all political parties said they would support ending federal and state tax exemptions for large credit unions, according to a Harris Poll survey commissioned by the Florida Bankers Association.
The credit union industry has strayed from its original tax-exempt purpose and its tax exemption can no longer be justified, according to an economist at the nonpartisan Tax Foundation, a respected research group in Washington, D.C.