Credit unions with share deposits primarily insured by the Dublin, Ohio-based American Share Insurance will not pay a special premium assessment in 2014, according to a Aug. 28 release from the private insurer.
ASI says recoveries from Silver State Schools Credit Union and other financials this year contribute favorably to the bottom line.
Regulators don't have a charter conversion application from the $209 million credit union, which sent ballots to members in May.
ASI-approved H.R. 3584, which would allow privately-insured credit unions to join a FHLB, passes House committee markup.
Silver State Schools Credit Union continued to lose money in the fourth quarter but less than before, and the Las Vegas credit union got a $4.4 million advance from its private insurer.
Perhaps it was bound to happen given the continuing financial slide of the $667 million Silver State Schools Credit Union.
Dennis Adams said he doesn't read too much into handful of planned conversions from NCUA coverage to his company.
The distressed $712 million Silver State Schools Credit Union of Las Vegas confirmed again what analysts had expected: a first-half $2.8 million loss. But its new management continued again last week to claim progress is being made toward recovery.
New CEO says management "continues working to stabilize" Las Vegas CU.
The David Rhamy saga at the long-ailing Silver State Schools Credit Union in Nevada ends next Monday with the CEO’s retirement and succession by the former CEO of Patelco Credit Union, Andrew Hunter.