What to Do When Credit Unions Go Rogue: Part One
Chip Filson analyzes the merging habits of Credit Union 1 in Illinois, the businesses decisions and bonuses the follow these mergers, and the outcome for members and employees involved in part one of two.
Credit Unions Need M&A to Grow and Technology to Sustain It
In a desire to expand, credit unions have been acquiring community banks and growing their reach. Alex Jimenez explains why these institutions will then need the technological capabilities to back those mergers and acquisitions up and maintain their members.
Double-digit Billion Dollar Credit Unions Announce Intentions to Merge
CUSO Magazine’s Esteban Camargo reports on the announcements of $11.9B Digital Federal Credit Union and $16.7B First Tech Federal Credit Union and their intentions to merge in 2025.
Wisdom for Life from Children’s Stories
Chip Filson views recent mergers and bank acquisitions through the lens of children’s stories to ask the industry: when is it time to say enough?
Small But Mighty: Webinar to Offer Insight into Turning Challenges of Small Credit Unions into Advantages
Support EXP is proud to host its next engaging webinar on Wednesday, August 28th, at 2:00 pm (Eastern). Join industry expert Rhonda Sheets, CEO of Support EXP, as she presents “Small But Mighty: The Unique Advantages of Small Market Credit Unions.”
Are Credit Union Members “American Idiots”?
Chip Filson ponders if credit unions have a low opinion of their members, as he reviews a recent case of a non-essential merger (in which executives were bonused hundreds of thousands of dollars) and the members who tried to stop it.
Credit Union Acquisition of Community Banks Rising, But Still “Small Proportion of Overall Consolidation”
Credit union purchases of community banks is a hotly debated argument, with bank and tax advocates arguing that it’s time Congress reassess credit union tax exemption, but credit union advocates argue it’s a drop in the bucket of bank consolidation.
Transparency: A Test for the Cooperative System
Chip Filson comments on transparency and credit unions’ ability and often motivation to keep members in the dark about their operations, and how they are learning this lesson from their regulator.
NCUA Financial Reports Shed Light on Gabriels Community Merger
When Gabriels Community Credit Union announced it was merging with Michigan State Federal Credit Union without a vote from the credit union’s members, a number of questions were raised. Now, financial reports from the NCUA are shedding mote light on the credit union’s financial status and what might have led to the merger. Emily Claus reports.
NCUA and Mergers: Keeping Members Out of the Room Where It Happens
In the past month, the NCUA has approved of two mergers, both without a vote from the members of the merging credit union. While permissible under NCUA rules, the silence of those involved and the unwillingness to share information has Emily Claus asking why owners are being kept out of the room where it happens.
