Links in “Credit Unions”

State and federal regulators are expected to approve the acquisition of Advance Mutual Savings Bank by the Municipal Employees Credit Union of Baltimore (MECU). MECU, a $1.2 billion credit union, will be acquiring the $61 million bank’s loans, investments, real estate, accrued interest receivables, etc., along with all deposits. The final purchase price has not been announced. [10/21]

NAFCU takes a look at the pre-foreclosure review period requirements associated with the mortgage rules taking effect in January. [10/21]

The NCUA Board at its October meeting on Oct. 24 will consider stress test requirements for federally insured credit unions with assets in excess of $10 billion and whether the results of those tests should be made public. In addition, the Board will also be evaluating a final rule on liquidity contingency plans. [10/18]

A researcher at Carnegie Mellon University decided to look at whether banks really adhere to their privacy policies. Her findings may surprise you. [10/18]

A look at the pros and cons and misconceptions around the decision to limit your future mortgage portfolio to just those loans that meet the definition of a “qualified mortgage.” [10/17]

Holy Love Ministry in Ohio had sued NCUA claiming it was owed an additional $250,000 in share insurance coverage as a result of the liquidation of St. Paul Croatian FCU. More than 20 people have been indicted or imprisoned for fraud as a result of the largest fraud case in credit union history. The church has filed a second suit for $1.5 million for compensatory damages. [10/17]

Voice recognition, paperless transactions foreseen as becoming the norm in banking over the next two decades. [10/17]

Today credit unions around the world and their 200 million+ members are celebrating the 66^th anniversary of International Credit Union Day. This year’s theme “Credit Unions Unite for Good” is designed to promote the credit union difference.

New NCUA Board member Richard Metsger said that the relationship between NCUA and the credit unions it regulates should be cooperative, even though the parties may come to an issue from different perspectives. He added that the agency is focused on ensuring that credit unions are sufficiently capitalized, are protected from interest rate and concentration risks, and have effective safeguards in place to protect against cyber attacks. [10/16]

Even if you don’t agree with the author’s view, this is a must-read article that questions why consumers join credit unions and how credit unions should position themselves in today’s marketplace. [10/16]