What happens when a credit union-owned CUSO is sold? Chip Filson looks into the 2022 sale of Safe Harbor Financial to special purpose acquisition company North Lights Acquisition Corp.
Chip Filson tells the tale of former FDIC Vice Chair Thomas Hoenig, the lone dissenting vote in a 2010 decision by the Fed to continue “quantitative easing.” As Americans brace for the impending consequences, Chip wonders whether credit unions are playing into a potential disaster.
CU*Answers’ Randy Karnes sits down with CUSO Magazine to reflect on his time as CEO of the cooperative CUSO, what’s next for him, and his thoughts on what’s to come for the organization and credit union industry.
Are credit unions really democratic institutions when less than ten percent of the membership can vote away that institution’s existence? Chip Filson wonders whether credit union cooperative design has eroded of the years.
David Baumann of the Washington CU Daily reports that the Independent Community Bankers of America and the American Bankers Association have criticized the National Credit Union Administration for a final rule allowing low-income, complex and new credit unions to issue subordinated debt.