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
Falling #gas prices: Pros, cons for U.S. economy #NewsNow #Market http://t.co/XWwwERwe7e
7 hours ago
Members of Interstate FCU have voted to merge with Credit Union of Southern California https://t.co/yYeSWEG4GH
9 hours ago
.@InfinityFCU has named Liz Hayes as president/CEO. Hayes was formerly EVP and chief administrative offficer at @Affinity_Plus
9 hours ago
.@wpcu battles Speedway in round 3 of Dayton Brand Madness via @DBJnews http://t.co/EbQL5f9be8
11 hours ago
New at #NewsNow: Fed regulators approve new #QRM rule. http://t.co/Bdz5q43xjZ
11 hours ago