Michigan-based Valley State Credit Union has been placed into conservatorship by the Michigan Department of Insurance and Financial Services.
Former Bear Paw CU head teller Peggy S. Teel embezzles almost $130,000 from the credit union over nine years.
The combined corporate will receive a new name and serve more than 1,200 CUs, leagues and CUSOs.
The second quarter’s number of consolidations, 46, is substantially lower than those reported in Q2 2015.
The Cornerstone, Georgia and Southeastern leagues support Operation Veteran Home Renovation.
Brooke Vernier admits to operating a complex scheme known as circular kiting with a co-conspirator.
Melrose cited for loan policies, concentration risk and underfunded ALLL, among other things, regarding its taxi medallion loans.
The Louisiana league reports CUs are struggling to get back up and running while coping with devastating personal losses.
Mainly due to its underperforming taxi medallion loan portfolio, Melrose posts a net loss of $57M.
The recognition can lead to greater employee engagement and help improve recruiting efforts.