Browsing: Credit unions


After last week blocking the sale of First American Bank’s remaining Iowa-based assets and branches to a credit union, the Iowa Division of Banking has settled with the bank and approved its application to sell substantially all of its assets and liabilities to the credit union and go out of business as a bank.


As part of its ongoing efforts to educate policymakers and the public about large credit unions’ abuse of their tax exemption, the American Bankers Association—through its Explore Credit Unions campaign—is launching a new series of ads designed to highlight how large credit unions have lost their way.


In an op-ed today, Colorado Bankers Association CEO Don Childears called a recent decision by the Colorado State Banking Board to deny the sale of a community bank to a credit union “good public policy,” noting that such a sale would have removed a taxpaying institution from the state tax rolls.

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