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
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.