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Latest Articles from Our Team

The Treasury’s emergency capital investment plan is a real boost to 85 credit unions

By Mike Macchiarola, CEO and Eli Krahn, Associate, 1/10/22

In December 2020, as part of its COVID relief package, Congress created the Emergency Capital Investment Program (ECIP) to encourage low- and moderate-income (LMI) community financial institutions to augment their efforts to support small businesses and consumers in their communities. The program is limited to Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs). Treasury formally launched the ECIP in March 2021…

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Credit unions gird for M&A, piling up 69% more secondary capital YOY

By Lauren Seay and Zuhaib Gull, 8/23/21

U.S. credit unions are building a war chest for more M&A in what is already shaping up to be a banner year for deal-making.

Total outstanding uninsured secondary capital for U.S. credit unions surged roughly 69% in the second quarter to $533.8 million, up from $315.7 million in the year-ago period. Secondary capital consists of uninsured loans — from banks, other credit unions or socially conscious investment pools including foundations and endowments — that credit unions can assume and classify as net worth on their balance sheets with regulatory approval.

Read the Full Article on S&P Global Market Intelligence

Armed with secondary capital, more credit unions aim to buy banks

By Lauren Seay, 8/1/21

Credit unions remain on the hunt for bank acquisitions, and a bank with $500 million to $1 billion in total assets could trade as early as this week, one deal adviser said.

A growing number of credit unions are using secondary capital to expand their deal capacity. One such institution, Tuscaloosa, Ala.-based Alabama CU, said Aug. 5 that it plans to acquire Jasper, Ala.-based Security Federal Savings Bank in an all-cash deal. The tie-up marks the sixth credit union acquisition of a bank announced this year…

Read the Full Article on S&P Global Market Intelligence