Credit Unions

Jennings Strouss is dedicated to staying informed about the issues that our credit union clients encounter in their daily operations, the traditional and innovative consumer financial products that credit unions must offer to stay competitive, and the constantly changing regulatory environment in which credit unions operate.

Regulatory Compliance

We continually monitor and advise our clients on the ever-changing federal and state laws and regulations that directly affect credit union operations, services, and products. We also represent clients before their regulators in matters that may call for discrete legal representation.

Contract Review and Negotiation

We regularly assist credit unions in evaluating, negotiating, and documenting a wide variety of business transactions with various third party vendors and service providers in the financial services industry. Our depth of experience in matters of regulatory compliance enhance our ability to spot regulatory issues lurking in contractual provisions.

Commercial Litigation and Dispute Resolution

We represent clients in claims involving their members and business partners and assist them in responding to garnishments, subpoenas, and other actions seeking member information. We represent clients in various collection practices (FDCPA) matters and litigation involving claims of fraud, deceptive trade practices, breach of fiduciary duty and other business-related disputes. We also have vast experience handling all aspects of commercial litigation, insurance coverage litigation, as well as insurance defense.

Governance

We provide advice concerning the responsibilities and liabilities of boards of directors, officers, directors, and committee members in each of their unique roles.

CUSOs

We advise our clients on forming or investing in Credit Union Service Organization (CUSOs) and frequently counsel and advise clients on the best structure for the entity.  Additionally, we provide services directly to CUSOs in areas such as contract review, negotiation, and compliance.

Field of Membership

We advise state chartered and federally chartered clients on the process for expanding their field of membership in order to offer their services to communities in need of their services.