Since at least 2010, Telesis Community Credit Union's member business loan program has been in a downward spiral.
News Update:
April 2, 2012, Telesis Management Taken Over By Premier America
May 7, 2012, May 7, 2012, Telesis Reports $13.8 Million First Quarter Loss
On March 23, the NCUA was appointed the conservator of the $318 million credit union after the California Department of Financial Institutions placed the Chatsworth, Calif.-based cooperative in conservatorship due to declining financial conditions.
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