LAKE FOREST, Ill.—Among banks, thrifts and credit unions, it was only credit unions that posted an increase in service charge revenue during the first quarter of this year.
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JERSEY CITY, N.J.–Two national publications are out with their lists of what they say are the nation’s “best” credit unions, with separate CUs in Tennessee and Massachusetts taking top honors in the respective rankings.
ALEXANDRIA, Va.—Time generally tells the story about the effectiveness of any decision, according to Michael Fryzel, who believes the years have now cast a favorable light on the road NCUA traveled to stem the collapse of the corporate credit union system more than a decade ago—even as he concedes there is an “infinite list of blame.”
ALEXANDRIA, Va.—The year 2021 seemed a long way off more than a decade ago as NCUA wrestled with a plan to save the corporate credit union system. And the fact it would take that many years to deliver a verdict on the agency’s efforts to resolve the crisis does not surprise Debbie Matz.
ALEXANDRIA, Va.–Just how serious was the corporate credit union crisis of a decade ago? It was an “extinction-level event,” according to the person who was closer to the crisis than just about anyone else. And no, not extinction for some or all corporate CUs—instead, for the U.S. credit union system itself.
BIRMINGHAM, Ala.—As the dust continues to settle on the corporate credit union crisis and some credit unions receive their final disbursements, one former NCUA chairman believes the agency performed under pressure—even though there were a few “black eyes”—against a task in which it was impossible to take perfect steps.
ALEXANDRIA, Va.–At the time, the maturity dates felt so far off they only added to the feeling of loss. What were perceived to be penny-on-the-dollar future recoveries were written off by most. For America’s credit union community, it was more than a black eye that appeared would never heal—it was what one person now describes as an “extinction-level” event. And yet that eye would not just heal, it would see good news come early—and America’s credit unions would not become extinct.
ORLANDO, Fla.–Leading a credit union may not ever be as physically and mentally taxing as climbing Mt. Everest, but according to one person who’s been there—and who said she learned more when she didn’t make it—both tasks share commonalities, including relentlessly moving forward one step at a time, and coming to understand that moving backward does not mean you’re not moving forward.
LAS VEGAS—While the majority of credit unions have emerged from the coronavirus pandemic with far stronger bottom lines than many had forecast in March of 2020, the question now is are CUs out of the woods, or are there still threats that remain to emerge?
DUBLIN, Ohio—While an oversight that temporarily prohibited some credit unions from making PPP was resolved last year, it’s an indicator that there remains significant misunderstanding in Washington over just how credit unions work, according to one person.