When a litany of loan and management problems led to the demise of Telesis Community Credit Union earlier this year, the business lending CUSO it founded 17 years ago likely knew it would inherit a perception problem within the industry.
This preview from next week's print edition focuses on the challenge faced by Business Partners LLC following the Telesis collapse.
Consolidated Bay Area credit unions will get new name in a few months.
Raising capital, board and committee activity fuels development of People’s Reserve CU as state regulators give nod.
Opinion letter from state regulators provides apparent authority for Technology Credit Union to pursue conversion to bank.
During the first quarter, vehicle buying CUSO Autoland Inc. reported a 16% sales increase over the same period last year.
The California Department of Financial Institutions liquidated the $301 million Telesis Community Credit Union of Chatsworth, Calif., June 1 and appointed the NCUA as liquidating agent. The $1.3 billion Premier America Credit Union of Chatsworth, Calif., which had been managing Telesis since mid-April, purchased and assumed Telesis’ members, deposits, core...
Vehicle buying CUSO Autoland Inc. said its first quarter earnings included a 16% sales increase over the same period last year.
The NCUA has retained the liquidated Telesis Community Credit Union’s CUSO shares, an agency spokesman said, but he did not know its future plans.
After years of losses from business lending, Telesis Community Credit Union was liquidated Friday and sold to Premier America Credit Union.