Credit unions contest Dodd-Frank
via Albuquerque Journal
ALBUQUERQUE, N.M. — For most of its 80-year history, U.S. Eagle Federal Credit Union served only government employees in New Mexico. That changed in 1992 when it started doing business with customers from all occupational groups statewide.
By the time it changed its name to U.S. Eagle last year, the organization – formerly known as U.S. New Mexico Federal Credit Union – had beefed up its growth ambitions, launched new products, hired more staff, expanded loans and merged with a smaller credit union in Santa Fe that had served correctional officers.
While U.S. Eagle is investing in its members, Majors said it also must deal with the costs of complying with the Dodd-Frank Act, an attempt to more closely regulate financial institutions in the wake of the 2008 financial meltdown.
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