Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Rhode Island CU considers charter conversion
CRANSTON, R.I. (7/21/08)--Coastway CU, Cranston, R.I., is considering a charter change to a mutual savings bank, according to a notice on the credit union’s website. “The board of directors believes this conversion would allow Coastway to better meet the current and future needs of our members,” the statement said. “The conversion would also allow us to offer loans to anyone, regardless of whether they have a deposit relationship with Coastway.” Specifically, Coastway said it hopes to offer more member business loans, which would help it generate greater revenues. No director, officer or employee will receive additional compensation as a result of the conversion. The credit union is currently seeking written comments from members on the proposed charter change. Comments must be received before Aug. 20. On Aug. 21, the board will decide on the charter change. Coastway has $302 million in assets and 25,000 members.


RSS





print
News Now LiveWire
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
9 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
10 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
10 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
11 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
12 hours ago