Episode Details

First Heritage Co-op Credit Union is poised to sell off its struggling investment arm, FHC Investments, after a brutal two-year run that’s cost over $120 million. Members will vote next Thursday on the sale — a move driven by mounting losses, shrinking assets, and external pressures like inflation and geopolitical turmoil. Despite pouring $170 million into the subsidiary, returns have been dismal, compounded by a cyber incident. The credit union plans to overhaul tech and strategy to revive FHC Investments, but with market contraction and industry consolidation sweeping the sector, the odds are stacked against them. This isn’t just a local decision — it’s part of a broader financial reckoning.

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