The long-term financial troubles at Nevada’s largest credit union, the $718 million Silver State Schools,, have also been accompanied by recent changes of senior management.
The head of American Share Insurance voiced confidence that Nevada's largest and long-troubled credit union, the $791 million Silver State Schools, can start showing a profit soon even though it missed the 2010 target.
On two fronts, the $725 million Aloha Pacific Federal Credit Union of Honolulu is expanding. It's buying a branch from the troubled Silver State Schools CU in Las Vegas and merging with a small, faith-based CU.
The ailing $791 Silver State Schools Family CU of Las Vegas is negotiating with its private insurer, American Share Insurance Inc. of Ohio for a five-year extension of a $22 million capital infusion loan made in February.
Aloha Pacific Federal Credit Union of Honolulu is moving ahead with expansion on two fronts: it merged a small, ailing CU and is opening its first out-state-branch in Las Vegas purchasing a Silver State Schools CU facility.
Conditions seem to be improving for Nevada's largest and most troubled credit union, the $819 million Silver State Schools Credit Union, according to its private insurer, American Share Insurance of Ohio.
Two of the top executives at Nevada's struggling Silver State Schools Credit Union have apparently lost their jobs, it was disclosed last week.
In an apparent management shakeup, two of the top executives at Nevada's struggling Silver State Schools Credit Union have departed, it was disclosed Wednesday.
The troubled Silver State Schools Credit Union of Las Vegas, the state's largest, has received a financial bailout-said to be $22 million-from American Share Insurance, the Ohio private insurer.
Negotiations were reportedly continuing in secret last week between the Nevada Financial Institutions Division, American Share Insurance Corp. and the troubled $883 million Silver State Credit Union.