Conditions seem to be improving for Nevada's largest and most troubled credit union, the $819 million Silver State Schools Credit Union, according to its private insurer, American Share Insurance of Ohio.
Two of the top executives at Nevada's struggling Silver State Schools Credit Union have apparently lost their jobs, it was disclosed last week.
The $819 million Silver State Schools, is on the financial mend despite shedding five of its 21 branches and witnessing the high level departure of top executives, said the president of its lead insurer, American Share Insurance of Ohio.
In an apparent management shakeup, two of the top executives at Nevada's struggling Silver State Schools Credit Union have departed, it was disclosed Wednesday.
The troubled Silver State Schools Credit Union, Nevada's largest, is having to do more belt-tightening and announced the closure of five more branches coming in June as it operates under a consent order with state regulators.
The troubled Silver State Schools Credit Union of Las Vegas, the state's largest, has received a financial bailout-said to be $22 million-from American Share Insurance, the Ohio private insurer.
Las Vegas has become the industry hot spot this month for heated public dialogue about federal vs. private insurance with both NCUA Chairman Debbie Matz and American Share Insurance CEO Dennis Adams taking turns at media megaphones.
Silver State Schools Credit Union President/CEO Dave Rhamy had a tough December.