Tag: deposits

Deposits And Members Assumed By Chrome FCU (2)

Credit UnionBristol Credit Union is your community bank, helping local people borrow and save at fair rates. In my opinion, Salt Lake County should have been struck from both charters at the time America First became a multiple common bond credit union. According to CNN Money , the Public Finance Corporation’s bonds are held by the island’s credit unions and their members and other investors. A Credit Union in the United States is generally defined as a Co-op between members.Credit Union

While it is unclear how much of the Public Finance Corporation’s debt is held by the island’s credit union, the Public Finance Corporation has borrowed about $1 billion. Given that this debt is severely impaired, credit unions should be writing down this asset to reflect market values. Update: CU Today is reporting that the National Credit Union Administration issued a statement saying that credit union exposure to these Puerto Rican bonds …