Nearly three months after the NCUA was appointed the liquidating agent for Telesis Community Credit Union, the agency has been working behind the scenes to divest the cooperative’s roughly $4 million stake in Autoland Inc., an auto buying CUSO.
The NCUA has been working behind the scenes to divest the former Telesis Community Credit Union's roughly $4 million stake in Autoland.
Some are calling it the strongest comeback to emerge from the dregs of the Great Recession. From the last year's drop in gasoline prices to a bevy of lures rolled out by manufacturers to woo shoppers, the auto industry is on track to post its highest volume since the year before...
The rebound in auto sales presents opportunities for credit unions. Find out more in this preview from our July 25 print edition.
After years on a regulatory watch list, NCUA and the California Department of Financial Institutions finally pulled the plug last week on the $318 million Telesis Community Credit Union, placing the Los Angeles-based credit union into conservatorship. The NCUA was appointed conservator, ending a troubled saga.
The NCUA has clarified that Autoland Inc., the auto buying CUSO co-owned by Telesis Community Credit Union, will continue to operate.
Business Partners LLC, the CUSO founded by Telesis Community Credit Union in the early 1990s, will continue originating and servicing loans, the NCUA said Monday.
Seizure of California credit union puts focus on career of Grace Mayo, CEO and industry leader.
To help local communities by funding charities supported by partner credit unions, Autoland Inc. has created its Charitable Grant Program.
The $568 million Seattle Metropolitan Credit Union and the $379 million Verity Credit Union in Seattle are the newest clients.