Retiring NCUF chief takes hard look at regulatory environment for credit unions.
California credit union first to emerge from NCUA management since 2007.
The NCUA-managed Arrowhead Central CU added some padding to its well-capitalized status, reporting 7.69% net worth as of March 31, and a $7 million first quarter net income.
From shutting down unprofitable branches to refocusing its efforts on consumer loans, Texans Credit Union is hoping some of those moves will help bring it out of conservatorship.
The NCUA-conserved Arrowhead Central Credit Union in San Bernardino, Calif., will get a new CEO in October.
Crippled by mounting commercial loan losses, the $1.6 billion Texans Credit Union was placed in conservatorship on April 15 by the NCUA.
The NCUA-conserved Arrowhead Central Credit Union. said this week its interim CEO, Kay Woods, who has been credited with protecting the $671 million CU following its June collapse, is stepping down.
An executive with the $4.3 billion Alaska USA Federal Credit Union said the CU had long planned on returning to shared branching in the California branches it acquired from Arrowhead FCU.
Arrowhead Central Credit Union, an NCUA conservatorship that has been shrinking for months, is now closing eight of its California branches by year end.
As further evidence of its asset scaledown, the $720 million Arrowhead Central Credit Union, under NCUA conservatorship since last June, announced Tuesday it is closing eight California branches by yearend.