Financial Services Industry

Credit Unions

Unlike many large firms, Fox has a practice dedicated to serving the credit union industry. One of our attorneys has more than two decades of experience in this industry, representing credit unions throughout the country with assets ranging from $2 million to $2.5 billion as well as state leagues and associations and other trade related organizations. We regularly represent state and federally chartered credit unions in a variety of areas including:

  • Corporate Governance
    We have advised credit union clients in the proper conduct of controversial membership meetings and elections, and in the duties, responsibilities and liabilities of officers and directors. We also assist credit union clients with the interpretation, revision and implementation of bylaws for state-chartered credit unions and the standard bylaws for federally chartered credit unions.
  • Mergers/Conversions
    We represent credit unions in mergers with other credit unions and in conversion from state charter to federal charter and vice versa.
  • Regulatory Law
    We provide services to credit unions in dealing with the NCUA and various other entities, state or federal, that govern and regulate or insure these organizations in negotiation LUAs and DORs as well as other regulatory action. We also advise clients regarding privacy, prompt corrective action and various state and federal consumer lending and protection statutes.
  • Vendor Due Diligence/Contract Review
    We assist clients in the review and negotiation of contracts and other arrangements critical to their day-to-day operations, such as data processing services upgrade and development, CUSO operation and investment arrangements, and other significant third-party vendor agreements.
  • CUSOs
    We advise credit unions in the formation, structuring and qualification of CUSOs, as well as the negotiation of third-party contracts for CUSOs, in order to enable credit unions to provide various services to members such as investment advisory/insurance products, indirect auto lending programs, mortgage services and real estate settlement services.
  • Business/Consumer Lending
    Fox Rothschild handles the negotiation, securitization and documentation of various business and consumer lending transactions. We also advise clients with regard to the issues relating to the issuance of credit cards, granting of mortgages and other credit-related issues.
  • Real Estate
    We represent credit unions in the purchase, sale and leasing of real estate and appear before zoning and planning boards, where necessary, in the establishment of branches or other offices.
  • Litigation
    We represent credit unions in various types and levels of litigation, including the defense of claims against credit unions and their officers and directors. We also represent credit unions in litigation to protect trade secrets and other intellectual property.
  • Collections/Bankruptcy
    Our lawyers handle negotiations and litigation for the collection of consumer and business claims that credit unions may have against their members as well as bankruptcy proceedings involving members of the credit unions.