Credit unions

On Sep. 30, 2019. Dollars in thousands.

Bankers may not want to hear this, but communities benefit when credit unions buy banks.

Two major banking organizations objected to a proposal by the agency that would expand the pool of investors in subordinated debt issued by credit unions. They fear it could provide credit unions more financing to buy banks.

A former credit union CEO explains why it chose to become a bank, subject to taxes, and says Congress needs to intervene in discussions on an NCUA proposal to loosen capital standards.

A former credit union CEO explains why it chose to become a bank, subject to taxes, and says Congress needs to intervene in discussions on an NCUA proposal to loosen capital standards.

Pushback from banks, a smaller pool of sellers and potential regulatory hurdles could pose setbacks for credit unions this year.

Federal legislation introduced this week by Rep. Gregory Meeks, D-N.Y., would ensure that taxi drivers don't get taxed on medallion debt that gets forgiven. The bill dovetails with a debt forgiveness plan under development in New York, where hundreds of drivers have filed for bankruptcy.

Following a 44% jump in the number of CU-bank acquisitions in 2019, some observers believe the volume could plateau this year.

The Colorado Banking Board may be the first regulator to ever block a credit union-bank merger.

Colorado's State Banking Board voted 6-1 to stop Elevations Credit Union from buying Cache Bank & Trust. This is believed to be the first time regulators have blocked such a deal.