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America's Christian Credit Union, which requires attendance at certain evangelical churches. Others were pretty darned broad, like Wescom Credit Union, which allows anyone who lives, works, worships or goes to school in Southern California to become a member.
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2009.01
Start a credit union. Or multiple credit unions - for different focus groups. One "open credit union" could allow online voting/participation in many decisions.
Create and license software needed to start/run a credit union. SaaS would allow quicker credit union startups for less upfront cost.
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2009.03
Regulatory risk in that credit unions are chartered by law/politicians. The laws can change to make it less profitable.
This article says that North Dakota has a budget surplus and all banking uses the state-owned Bank of North Dakota. Supposedly North Dakota is the only state with it's own bank.
If states can do it, can cities/towns also do it?
( Member Business Lending )
This effectively limits the dollar amount of total MBL lending to 12.25% of credit union total assets.
...
Even though very few credit unions are approaching the 12.25% MBL ceiling, the very existence of that ceiling discourages credit unions from entering the field of member business lending. Credit unions must meet strict regulatory requirements before implementing an MBL program, including the addition of experienced staff. Many are concerned that the costs of meeting these requirements cannot be recovered with a limit of only 12.25% of assets.
Credit Union conference June 2009 http://training.cuna.org/download/acuc_2009_brochure.pdf
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Credit Union Software:
http://www.pclender.com/solutions_cu.php
http://strategicservices.cuna.org/
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Starting A Credit Union:
10 steps to starting your own credit union
Time and dedication required to start your own credit union
How to Start a Credit Union
Credit Union can be chartered at state level or at federal level.
NCUA charters federal credit unions.
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How is a Savings & Loan different?
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