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.
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...
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 Office of Financial Insurance Regulation on Thursday closed the $303,261 United Catholic Credit Union in Temperance, a one-person shop.
The NCUA on Saturday said that Western Bridge Corporate Federal Credit Union has been formally liquidated.
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.
Colorado Springs credit union takes over for liquidated Saguache County institution to ensure financial services to small communities.
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.
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.
The NCUA said Friday night it has assumed conservatorship of Telesis Community Credit Union in California and liquidated Saguache County Credit Union in Moffat, Colo.