California Department of Financial Institutions

• Business Partners Sees Hope

  By Michelle A. Samaad  |  May 1, 2013

  Six months after Business Partners LLC, the member lending subsidiary founded by the failed Telesis Community Credit Union, changed owners, the CUSO is starting to emerge from a bleak and dark fog.

• After CU Ownership Change, Business Partners Reaps Profits, Strong Capital

  By Michelle A. Samaad  |  April 22, 2013

  Reduction in overhead costs cited as largest contributor to CUSO's recent performance post-Telesis.

• More Lessons Emerge With Details on Telesis Collapse

  By Michelle A. Samaad  |  April 3, 2013

  While it’s been a little over a year since Telesis Community Credit Union went under conservatorship, credit unions may find there are still more lessons to learn from the cooperative’s collapse.

• Telesis Failure Blamed on Management, Board, Regulators

  By Heather Anderson  |  March 27, 2013

  The NCUA’s Inspector General blamed Telesis Community Credit Union’s former management and board as well the NCUA and California Department of Financial Institutions for the Chatsworth, Calif.-based institution’s failure in a material loss review released March 20.

• 4 Lessons Learned From Telesis Failure

  By Michelle A. Samaad  |  March 21, 2013

  Business services specialist points at MBL exposure, loan loss allowances, dependence on CUSO revenue, high operating expenses.

• Inspector General Blames Management, Board, Regulators for Telesis Failure

  By Heather Anderson  |  March 21, 2013

  New report cites CEO's aggressiveness and risk-taking, compliant board, lax oversight in California credit union failure.

• Telesis Loss Review Reveals NCUA Will Raise Some Net Worth Requirements

  By Heather Anderson  |  March 21, 2013

  OIG says agency should amend capital rules to reflect higher risk in member business loan portfolio.

• Telesis Tab Reaches $72 Million

  January 16, 2013

  The NCUSIF has taken an estimated hit of $72 million due to the failure of Telesis Community Credit Union, NCUA Public Affairs Specialist John Fairbanks said Tuesday.

• California DFI: No More Paper Exam Reports

  By Natasha Chilingerian  |  January 14, 2013

  Reports will now be delivered as PDFs via secure email.

• Telesis Tumble Tab Reaches $72 Million for NCUSIF

  By Heather Anderson  |  January 8, 2013

  NCUA says $177 million also put into Premier America purchase and assumption deal for failed credit union's leftovers.