Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Coastway bank-charter vote scheduled
CRANSTON, R.I. (3/13/09)--Members of Cranston, R.I.-based Coastway CU will vote April 29 on whether to change the credit union's charter to a mutual savings bank charter. About 21,000 members in good standing as of March 31 at the $303.5 million asset credit union will be eligible to vote at the meeting, which begins at 7 p.m. at Crown Plaza Hotel. They also can vote at Coastway's seven branches or by mail after ballots are distributed. Despite the economy's effect on banks, Coastway President/CEO Bill White told the The Warwick Beacon (March 10) the conversion is still being planned. White said the credit union has hit the 12.25% of assets cap on its business loans and a bank charter would eliminate the cap. He said he knows of no organized group of members opposing the conversion but acknowledge some will be opposed to the change.
Other Resources

RSS print
News Now LiveWire
Consumer confidence hits 7-year high #Market #NewsNow http://t.co/s7DGIGLZb3
17 hours ago
Still time 2 register 4 @TheNCUA Nov. 19 webinar, “Building a Loan Portfolio: Four Keys to Lending,” hosted by OSCUI. http://t.co/ezTFpnhHlP
17 hours ago
BREAKING: QE in rearview mirror, rate hike miles off: @federalreserve http://t.co/l8y32TZs6w #BREAKING
18 hours ago
.@federalreserve: cmte decides to conclude asset purchase program this month http://t.co/eNjjYbSpc4
18 hours ago
Lake Trust #creditunion (re)invests with The Block in Lansing #NewsNow #System http://t.co/mSQftnBIgA
20 hours ago