The yearend closing of eight branches of Arrowhead Central Credit CU including six in a California supermarket chain rekindled this week the local dispute over last June's NCUA conservatorship.
At issue are both the economic fallout from a leading CU losing its competitive presence to a bank and long-running complaints from a private economist–with former ties to the CU— that the agency erred badly in seizing the $720 million San Bernardino CU.
The economist, John Husing of Redlands who had Arrowhead as a former client, charged in local media reports the agency continues "to destroy a once-viable financial pillar for our community," citing the closing of the Stater Bros branches as further evidence.
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