Purchase ends CUSO's management by NCUA since failure of Telesis Community Credit Union.
Reduction in overhead costs cited as largest contributor to CUSO's recent performance post-Telesis.
The NCUA’s Inspector General blamed Telesis Community Credit Union’s former management and board as well the NCUA and California Department of Financial Institutions for the Chatsworth, Calif.-based institution’s failure in a material loss review released March 20.
OIG says agency should amend capital rules to reflect higher risk in member business loan portfolio.
NCUA says $177 million also put into Premier America purchase and assumption deal for failed credit union's leftovers.
Disasters and missteps are just some of the highlights in this early look at our Year in Review print issue out next week.
A year ago, unemployment was 14% around the Inland Empire in California, much higher than the national average.
Three credit unions form managing partner group to lead ownership of member business lending CUSO.
The NCUA is standing by its decision to limit bids for Autoland Inc., an auto buying CUSO, to only credit unions and CUSOs.
The NCUA has been working behind the scenes to divest the former Telesis Community Credit Union's roughly $4 million stake in Autoland.