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
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.