liquidation

• AM Community CU May Have Been Over Extended on MBL

  By Michelle A. Samaad  |  August 27, 2012

  Against a backdrop of a groundswell of support to expand business lending authority, one outcome is becoming an unfortunate black eye on those efforts.

• Big Loan Fraud Felled New York Credit Union

  By Heather Anderson  |  August 27, 2012

  A bulletin released last week by the FBI revealed the reason the NCUA seized the $52 million Broome County Teachers FCU of Binghamton, N.Y., in June of 2011. Loan fraud.

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  Guest Opinion: FASB’s Proposal on Liquidity and Rate Risk

  By Michael Gagliardi  |  August 27, 2012

  The Financial Accounting Standards Board recently released a proposed accounting standards update for financial instruments concerning new financial statement disclosures of liquidity risk and interest rate risk. The proposal is one portion of a joint project between FASB and the International Accounting Standards Board on the subject of accounting for...

• Rejected Autoland Bidder Cries Foul

  By Michelle A. Samaad  |  August 20, 2012

  Nearly three months after the NCUA was appointed the liquidating agent for Telesis Community Credit Union, the agency has been working behind the scenes to divest the cooperative’s roughly $4 million stake in Autoland Inc., an auto buying CUSO.

• Michigan Regulators Allege Criminal Activity, Shut Down Small Credit Union

  By Heather Anderson  |  August 9, 2012

  Michigan Office of Financial Insurance Regulation on Thursday closed the $303,261 United Catholic Credit Union in Temperance, a one-person shop.

• Corporate No More: Western Bridge Formally Liquidated

  By Marc Rapport  |  July 8, 2012

  The NCUA on Saturday said that Western Bridge Corporate Federal Credit Union has been formally liquidated.

• Mergers: Protecting Small Town Finance

  By Jim Rubenstein  |  April 9, 2012

  Whether a mid-sized credit union in Colorado or a billion dollar credit union in Philadelphia, the messaging about protecting small town financial services surfaced again last week.

• In Colorado CU Takeover, Aventa Eyes New Protective Role

  By Jim Rubenstein  |  April 3, 2012

  Colorado Springs credit union takes over for liquidated Saguache County institution to ensure financial services to small communities.

• Charlotte Credit Union Liquidated After Less Than Two Years

  By Marc Rapport  |  April 1, 2012

  The $379,000 Shepherd’s Federal Credit Union in Charlotte, N.C., has been liquidated by the NCUA, about 18 months after it opened its doors to serve a faith-based, low-income membership.

• NCUA Liquidates New Credit Union in Charlotte

  By Marc Rapport  |  March 26, 2012

  The NCUA on Monday liquidated the 18-month-old, $379,000 Shepherd’s Federal Credit Union in Charlotte, N.C., its fourth such move so far in 2012.