The state regulator tells the $613 CU its cease and desist order is a last chance to avoid conservatorship.
The conservatorship follows a December 2014 cease and desist order from the agency.
Credit union's net income under conservatorship almost four times higher.
The $117M cooperative’s net income quadruples as loans reach the $4M mark.
Venerable credit union leader dies Monday at the age of 72 after battling colon cancer.
The $1.4 billion Texans Credit Union, operating under a conservatorship, posted year-end net income of $21.7 million for 2014.
The $238 million AEA Federal Credit Union in Yuma, Ariz., reported net income of $3.8 million for 2014, while operating under a conservatorship.
A former Alabama credit union president/CEO allegedly stole $14 million.
Jonathan Wade Dunning, former CEO of Birmingham Financial FCU, received 112 felony charges for allegedly stealing $14M.
The once financially-troubled credit union in Yuma, Ariz., sees growth in loans and net worth ratio.