Topic: General Posts

Subject: Credit Union
Jim Lenihan
Member: 2000
Posts:6
Submitted on 12-23-14 11:23 pm
Message:
Has anyone ever chartered a new state or federal credit union?
 
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Replies
Chris Lucander
Member: 2012
Posts: 3

Subject: Re:Credit Union

Submitted on 01-16-15 3:42 pm.
Message:
Not a credit union. I have been involved with chartering a bank. Suggest you contact your state regulator for credit unions and ask to speak with the person responsible for approving charter requests and for atty and cpa recommendations. Or yo cold reach out to a relatively new cu in your area and speak with the ceo.
 
Anne Colucci
Member: 2014
Posts: 3

Subject: Re:Credit Union

Submitted on 01-20-15 6:30 am.
Message:
Hello Jim,

My apologies for such a late reply to your request regarding chartering a credit union! Shame on me for not logging in to the FENG site for a while! If you are still researching the possibility of forming a credit union, I have worked in the industry for 20 years and would be more than happy to answer any questions you may have.

Anne Colucci
 
Jim Lenihan
Member: 2000
Posts: 6

Subject: Re:Credit Union

Submitted on 01-20-15 6:40 am.
Message:
Thank you for your comments. Anne, I will reach out to you as we move forward.
 
Anne Colucci
Member: 2014
Posts: 3

Subject: Re:Credit Union

Submitted on 01-20-15 7:06 am.
Message:
Great. Look forward to it.

Anne
 
Chris Lucander
Member: 2012
Posts: 3

Subject: Re:Credit Union

Submitted on 01-20-15 5:59 pm.
Message:
Anne:
With your experience in credit unions, do you have any suggestions for the best way for a banker to transfer over to the credit unions?
Thank you
Chris
 
Anne Colucci
Member: 2014
Posts: 3

Subject: Re:Credit Union

Submitted on 01-20-15 7:05 pm.
Message:
Hi Chris,

The skills we have in banking mirror the skills you need in the credit union industry. Additionally you should find that the titles will be quite similar especially in the lending arena. A banker should have no problem applying for credit union positions in their respective field.
 
Doug Benton
Member: 2009
Posts: 3

Subject: Re:Credit Union

Submitted on 01-29-15 9:50 am.
Message:
In one of my prior roles I was responsible for lending to credit unions. That has been awhile but I did come across a rating agency methodology for evaluating a credit union from a lending/credit perspective. Please contact me directly if you are interested.

Thanks
Doug Benton
dbenton128@gmail.com
 
Denise Alvarez
Member: 2008
Posts: 2

Subject: Re:Credit Union

Submitted on 02-06-15 4:48 pm.
Message:
I work for a rating agency; our methodology for rating credit unions can be found here: https://www.krollbondratings.com/show_report/51?transaction_id=0

I think you will need to create a free login ID and password to access the methodology report. For more information on our subscription (fee based) services, please reference: https://www.krollbondratings.com/srs

We also have published reports on many financial institutions, which may be interesting to you. I work in the Corporate Finance Group, so I don't have first-hand knowledge of the report contents, but here's a link: https://www.krollbondratings.com/ratings/financial-institutions-ratings

Good luck!
 
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