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By Heather Anderson |
June 11, 2012
The California Department of Financial Institutions liquidated the $301 million Telesis Community Credit Union of Chatsworth, Calif., June 1 and appointed the NCUA as liquidating agent. The $1.3 billion Premier America Credit Union of Chatsworth, Calif., which had been managing Telesis since mid-April, purchased and assumed Telesis’ members, deposits, core...
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By Heather Anderson |
June 4, 2012
The NCUA has retained the liquidated Telesis Community Credit Union’s CUSO shares, an agency spokesman said, but he did not know its future plans.
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By Michelle A. Samaad |
May 14, 2012
The new interim president of Business Partners LLC said the business lending CUSO is on track to continue growing this year.
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By Jim Rubenstein |
May 7, 2012
Conserved California credit union continues five-year string of losses.
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By Michelle A. Samaad |
May 2, 2012
Profitable for eighth consecutive year, with new interim president in place.
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April 15, 2012
The $1.3 billion Premier America Credit Union has contracted with the NCUA to manage the assets of the seized $318 million Telesis Community Credit Union. Both credit unions are based in Chatsworth, Calif.
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By Michelle A. Samaad |
April 9, 2012
The timing of criticism toward a regulatory proposal to limit loan participations to a certain percentage of a credit union’s net worth with the takeover of a California cooperative heavily steeped in the transactions may have created an ironic overlap.
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By Sarah Snell Cooke |
April 9, 2012
The credit union industry is in full-court press over a possible vote in the Senate to expand member business lending. Congress’ spring break could have allowed credit unions a lobbying breather had it not been for Senate Majority Leader Harry Reid’s promise for a vote on the member business lending...
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By Jim Rubenstein |
April 1, 2012
After years on a regulatory watch list, NCUA and the California Department of Financial Institutions finally pulled the plug last week on the $318 million Telesis Community Credit Union, placing the Los Angeles-based credit union into conservatorship. The NCUA was appointed conservator, ending a troubled saga.
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By Michelle A. Samaad |
April 1, 2012
Since at least 2010, Telesis Community Credit Union’s member business loan program has been in a downward spiral.
