The term “small credit unions” is relative. That said, even when times are good, the “small credit union” tends to face challenges in a way that “larger credit unions”, another relative term, don’t. Speaking from experience, the pressures on the small credit union leadership looms large on a daily basis. The leadership must be intimately involved in all aspects of the operations. Regulatory burdens alone loom large for the small credit union. More
Small Credit Union Considerations
October 28, 2010
General Asset quality, Banking Services, Business, Credit Union, Financial services, Loan, National Credit Union Administration, United States Comments Off on Small Credit Union Considerations
More Regulation Forthcoming
October 27, 2010
General Credit card, Credit Card Act, Credit CARD Act of 2009, Credit Union, Financial services, Mortgage loan, Rulemaking, Veto Comments Off on More Regulation Forthcoming
The recent Frank-Dodd bill signed into law contains 35 different rule-making provisions applicable to credit unions. In NY State Governor Patterson signed legislation last December amendments relating to foreclosure actions on home mortgage loans. The Credit Card Act, Reg Z, the Safe Act etc etc. The result is higher costs of doing business all around without adding value to our existing member relationship.
cu advisory group 