Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CU System briefs (07/01/2009)
* CRANSTON, R.I. (7/2/09)--Cranston-based Coastway CU officially became Coastway Community Bank Wednesday. The 89-year-old credit union, founded as Telephone Workers CU, had 21,000 members and about $284 million in assets as of Tuesday. The credit union decided to convert to a mutual savings bank because it wanted to do more business lending than it was allowed under the 12.5% of assets cap required of credit unions. In April, 80% of voting members endorsed the conversion. (The Providence Journal July 2 and Warwick Online June 30) … * FORT WORTH, Texas (7/2/09)--OmniAmerican Bank--the former OmniAmerican CU based in Fort Worth--said Tuesday it will offer an initial public offering (IPO) to convert from a mutual savings bank to a publicly held company. The bank converted from a credit union charter on Jan. 1, 2006, to a mutual bank charter. Depositors with the bank as of March 31, 2008, would be eligible to participate in the IPO, which would be completed during the first quarter of 2010. The bank was founded in 1956 as Carswell FCU serving Carswell Air Force Base. It has $1.06 million in assets--less than the $1.6 billion in assets it had when it converted from a credit union to a bank (Fort Worth Business Press and Star-Telegram June 30) …


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
9 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
10 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
12 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
14 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
14 hours ago