As conservatorship ends, local advisory board recruited by NCUA to serve until annual meeting next year.
California credit union first to emerge from NCUA management since 2007.
At one point, the high-flying commercial lending CUSO formed through Eastern Financial Florida Credit Union funded more than $200 million in business loans and served dozens of credit unions nationwide.
NCUA-conserved Arrowhead Credit Union has posted its first quarerly profit in a year.
The yearend closing of eight branches of Arrowhead Central Credit CU including six in a California supermarket chain rekindled this week the local dispute over last June's NCUA conservatorship.
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 controversy over whether or not the NCUA was justified when it seized the $876 Arrowhead Credit Union
The sudden NCUA takeover of the $876 million Arrowhead Central Credit Union on Friday was as much a surprise to the $4 billion Alaska USA FCU, now owner or co-owner of four former branches of Arrowhead, as it was to others, Alaska USA management reported.
The $4 billion Alaska USA Federal Credit Union of Anchorage and the ailing $875 million Arrowhead Credit Union of San Bernardino, Calif. disclosed Wednesday they will begin implementing the sale of five Arrowhead branches starting this weekend.
In separate moves, two of the struggling sand state credit unions, the $851 million Arrowhead Central CU in California and the $370 million AEA FCU of Yuma, Ariz., found themselves suffering more of the recession's fallout this month.