The serious problems at Arrowhead Credit Union may have been on regulators' radar for months, but the NCUA's June 25 takeover of the $876 million California CU surprised some in the CU community, including the
The $330 million Vons Employees FCU opened a full service, in-store grocery branch in Hesperia, Calif. today, moving into a Wells Fargo facility that had closed just 30 days ago.
When the NCUA announces the NCUSIF assessment to cover losses at natural person credit unions in September, it will probably be between six and 10 basis points of insured shares, according to CUNA Chief Economist Bill Hampel.
NCUA Director of Congressional and Public Affairs John McKechnie dropped a bombshell in response to criticism that the agency acted too swiftly in its June 25 conservatorship of the $876 million Arrowhead Credit Union: Arrowhead fudged its March numbers.
Interim President/CEO of the California and Nevada Credit Union Leagues David Chatfield told Credit Union Times today he thinks the NCUA seized the $876 million Arrowhead Credit Union because someone in the agency "had an axe to grind."
NEW ORLEANS -- Representatives from four credit unions that were involved in mergers or acquisitions shed some light on the closed-door and detailed process during a CUNA CFO Council session.
Nearly eight years after the $851 million Arrowhead Credit Union bought a firm to bring a plethora of insurance services to its membership, it recently announced that losses and lackluster profits led to the cooperative selling the subsidiary.
The $851 million Arrowhead Credit Union has sold it insurance subsidiary, Sawyer Cook Insurance, several publications recently reported.
Plagued with losses and the inability to turn a profit, the $851 million Arrowhead Credit Union said it has sold its insurance subsidiary, Sawyer Cook Insurance.
North Island Credit Union President/CEO John Tippets said he's cautious but positive he can turn the ailing $1.4 billion San Diego credit union around, despite dropping to 3.39% net worth at year-end 2009.