Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
California budget impasse impacts CUs costs
SACRAMENTO, Calif. (9/26/08)--The Golden 1 CU made loans this summer to 1,095 California state workers to help them through the state’s 85-day budget impasse, and its assistance cost the credit union $52,000 in opportunity costs. The $52,000 represents what the credit union could have earned investing the money, rather than loaning it at 0% interest to the state workers who did not receive paychecks during the budget stalemate, Teresa Halleck, The Golden 1 president/CEO, told News Now. Several loans were made to some of the workers, Halleck added. “We just passed the 75th anniversary of The Golden 1 CU,” Halleck said. “From a membership standpoint, there has been a tremendous loyalty to state workers. We’ll take care of state workers. I don’t know why they would bank with anyone but The Golden 1.” California Gov. Arnold Schwarzenegger signed the longest overdue budget in state history Tuesday (The Mercury News Sept. 23). The Golden 1 is based in Sacramento, Calif., and has $6.955 billion in assets.
Other Resources

RSS print
News Now LiveWire
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
4 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
5 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
8 hours ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
8 hours ago
Both @CUNA @NAFCU urge extension of #RBC extension period http://t.co/FWMcvlwHPM
9 hours ago