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.
The $41 billion Navy Federal Credit Union announced Sept. 13 it will merge the $605 million United Services of America FCU of San Diego, which fell to 2.76% net worth as of June 30.
The NCUA-rejected sale of the $600 million United Services of America FCU's South Korean and Japanese branches was worth as much as $30 million, California Credit Union League Interim CEO Dave Chatfield said.
The Financial Service Centers Cooperative has replaced four previously shared branching outlets with a shared branch and kiosks housed in other spaces.
Credit unions are bracing to dig even deeper into their pockets. An increase in CAMEL 3, 4 and 5 credit unions and more credit union closings are causing strains on the NCUSIF.The fund's equity ratio is 1.21% assuming all credit
Larry Sharp, fired by the NCUA two weeks ago after his credit union was seized June 25, already has a new job.
Thanks to a good relationship with its sponsor group and a stroke of luck, the $330 million Vons Employees FCU opened a full service,
The $876 million Arrowhead Credit Union can continue to process pending member business loan applications but not accept new ones, the NCUA said.
David Chatfield, interim California and Nevada Credit Union Leagues president/CEO, wasted no time jumping back into the spotlight, harshly criticizing the NCUA in a June 30 interview with Credit Union Times from his home in Prescott, Ariz.
The controversy over whether or not the NCUA was justified when it seized the $876 Arrowhead Credit Union