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The National Credit Union Administration approved the Young Community Federal Credit Union to begin operations in Kentucky soon. An organization in Maryland is shooting for a 2024 opening.
November 8 -
Despite regulatory efforts, applications for traditional new banks often now require lengthier review periods for approval than in the last several decades. Here are some key ways to lighten this burden.
September 5Carpenter & Company -
The National Credit Union Administration is addressing two of the main reasons why new institutions aren't being formed — making it easier for the organizers to raise the required capital and easing the burden of the application process, says Todd Harper, the agency's chairman.
September 4National Credit Union Administration, Federal Financial Institutions Examination Council -
The plan calls for the formation of Orca Bank in Bellingham, Washington. It would become a subsidiary of Savi, whose CEO would assume the same role at the bank.
August 22 -
Beach Cities Commercial Bank is set to open in Southern California next week. Rising interest rates and consolidation in recent decades have created more opportunities for investors to form new banks, experts said.
June 6 -
Generations United Federal Credit Union's first president and CEO, John Linzey, expects to attract the very customers that banks might turn away if the economy sours.
May 12 -
Lexicon Bank's cautious approach to its balance sheet helped it weather the pandemic and avoid some of the mistakes that plagued other failed banks.
April 11 -
The National Credit Union Administration would give tentative OKs to organizers of startups so they can secure enough capital for a final approval, Vice Chairman Kyle Hauptman says. Some industry observers describe the plan as a step in the right direction, while others complain more has to be done to foster new credit unions.
March 3 -
The nonprofit First Step Alliance is working to launch Diverge Federal Credit Union, which plans to offer loans to cover the costs of gender affirmation surgery for individuals and adoption for same-sex couples.
June 9 -
Mutual institutions, long pillars of underserved communities, now face insurmountable barriers to entry.
April 4Locke Lord