Central States Mortgage Corp.

  • Wisconsin Trendline Shows Uptick in Loss of Small CUs

    There are currently 211 CUs in the state, down from 260 in 2007. Only two are federal credit unions.

  • Once Failed, Wisconsin's Prime Financial Has New CEO

    The $137 million Prime Financial Credit Union, once considered a failed Milwaukee CU and an early victim of the 2009 Central States Mortgage Corp. bankruptcy, has a new CEO, Christine Moczynski.

  • Koenig Barred by NCUA

    In a consent order, the NCUA last week barred Richard Koenig, the former chairman of Central States Mortgage Corp., a bankrupt Milwaukee CUSO and ex-CEO of the $144 million Prime Financial CU of Cudahy, Wis., from further industry activities.

  • Koenig, Ex-Central States Chairman, Barred by NCUA

    Richard Koenig, the former chairman of Central States Mortgage Corp. a bankrupt Milwaukee CUSO and ex-CEO of the $144 million Prime Financial CU of Cudahy, Wis. has been barred from the industry by the NCUA under a consent order issued Thursday.

  • Wisconsin CU Emerges From Conservatorship

    Once considered a failed CU, the $144 million Prime Financial Credit Union of Cudahy, Wis., is back on its feet this month-pulled out of conservatorship by the state after a new management team and board restored "normal operations."

  • Wisconsin CU Emerges From State Conservatorship

    Prime Financial Credit Union of Cudahy, Wis., once considered a failed CU, is back on its feet "as an independent" organization returning to normal operations.

  • Milwaukee CU Merged

    The $34 million First Service Credit Union of Milwaukee has become the latest victim of last year's bankruptcy of Central States Mortgage Corp., the Wauwatosa, Wis.. CUSO that got into trouble over subprime paper.

  • Another Wisconsin Central States CU Gets Merged

    Another Milwaukee credit union, the $34 million First Service, has fallen victim to last year's collapse of Central States Mortgage Corp., the CU-run CUSO that got into trouble over subprime paper.

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