LAS VEGAS – Dale Johnson, CEO of the $310 million Sun Community Federal Credit Union, said a credit union should hold at least 10% net worth to stay afloat and pay more for strong talent to achieve success.
"Be sure you have enough capital," Johnson said at NAFCU's Annual Conference during a session entitled, "How a CEO Turned Around a Credit Union."
"We're at 11.5% at Sun Community. You've better always have at least 10% of capital, if not 11% or 12%," he added.
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