Fresh Today

Fresh Today

FARGO, N.D.– The newest review of the disclosure forms credit unions must provide to their members when they are seeking to merge finds some of the typical reasons being cited—such as “improved products and services”—but also  CUs saying board members have moved away, citing a data processing conversion and an inability to find people to oversee the transition; CUs with high capital both paying and not paying out distributions, and one CU paying our more than $900,000 in compensation to five executives (plus undisclosed amounts in SERPs) as part of the merger.