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How to Charter a New Credit Union with Keith Stone and Rick Mumm
Manage episode 436243121 series 3303439
Innhold levert av Mark Treichel and Mark Treichel's Credit Union Exam Solutions. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Mark Treichel and Mark Treichel's Credit Union Exam Solutions eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
Guests:
- Keith Stone, CEO of The Finest Federal Credit Union and New Jersey PBA Federal Credit Union
- Rick Mumm, former NCUA examiner and credit union consultant
Key Points:
- Keith Stone discusses his background in credit unions, including chartering The Finest FCU for law enforcement in New York in 2014-2015
- Rick Mumm shares his 35+ year career at NCUA, including work in chartering and field of membership
- They discuss the process of chartering the new New Jersey PBA Federal Credit Union, set to open next month
- Key challenges in chartering a new credit union:
- Proving the concept/need for the credit union
- Securing initial capital funding
- Navigating NCUA's chartering process and requirements
- Benefits of having experienced help to "speak NCUA's language" and present information properly
- Importance of having a committed sponsor group and sufficient capital to start
- How The Finest FCU is leveraging shared services to support the new NJ PBA FCU
- Keith's work with new NYPD recruits, offering low-rate loans for equipment
- Their mission to provide better financial services for law enforcement
Contact Info:
Keith Stone: 646-661-1331
Rick Mumm: rick@rcuservices.com
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