All credit unions hope for a positive return on equity, maybe even an exceptional one, but primarily as a byproduct of successful strategies employed in serving members.
David Addison, former CEO of Texans Credit Union, consented to not becoming an employee or hold office at FCUs or CUSOs.
It was more than five years ago – March 2009 – when the NCUA seized WesCorp and U.S. Central, and thus began a shakeup that would completely redraw the map of corporate credit unions and their spokes. That story has been told, extensively, in CU Times.
Catch up with three former corporate leaders: Thomas Bonds, Francois Henriquez and Brian Hague.
$1.4 billion credit union reported $23M net income and 3.64% net worth as of Dec. 31. NCUA's lawsuit against former CEO Addison ongoing.
Kansas City investment CUSO sends out letter saying CEO Brian Hague, EVP Doug Richardson, have left.
Texans CU in Dallas and Keys FCU in Florida on the mend, agency says.
The NCUA filed suit late last month against David Addison, former CEO of Texans Credit Union, accusing him of breach of fiduciary duty and gross negligence that led to the $1.4 billion credit union’s April 2011 conservatorship.
CNBS LLC says David Addison is one of several partners in holding company that bought 51% stake.
Suit alleges misconduct, bad investments led to credit union's $16 million in losses.