CUSC said planned addition of the $60 million North Orange County CU would bring assets to $670 million after two others approved.
The $83 million Musicians’ Interguild Credit Union of Hollywood, Calif., has a beef over how examiners treat modifications on interest-only loans and its CEO/Treasurer Marc Jacoby is outspoken on the topic.
The board of directors of $1.5 billion Technology Credit Union has written the CU's 74,000 members that they may be better served by converting the credit union to a bank.
Claiming it is being made a scapegoat, a Hollywood, Calif. credit union, the $83 million Musicians’ Interguild, is wrangling with regulators this week over how to treat modifications on real estate loans written as interest-only and now deemed delinquent on Call Reports.
Southern California Postal CU of Long Beach takes over; both CUs covered by American Share Insurance.
Hurry up and wait. That’s what credit union leaders and compensation experts are doing as they await the final rules from the NCUA and other regulators on incentive-based compensation.
Acting at the NCUA's behest, the $1.5 billion Western Federal Credit Union of Hawthorne, Calif. was the successful bidder last week to merge the failed $90 million Oakland Municipal Credit Union.
Marking its first merger in three years, the $1.7 billion Redwood Credit Union of Santa Rosa, Calif. is taking over the ailing $90 million Cal State Central CU effective April 1.
The California Department of Financial Institutions reached an agreement with FoolProof, the Florida consumer advocacy initiative, to start offering financial literacy curriculum across the state.
Western Federal Credit Union, having merged this week the failed $88 million Oakland Municipal CU, remains on the lookout for future municipal-based CUs in California "that fit our business model," its top management said.