The $3.1 billion Space Coast Credit Union has filed a suit against two investment firms over the alleged misrepresentation of a collateralized debt obligation that the cooperative said led to financial losses.
Space Coast CU is suing Barclays and State Street Securities over investment losses that led to its takeover of Eastern Financial CU.
The executive tapped to lead integration of one of the biggest mergers in the credit union industry has a new role.
Timothy Antonition, the executive tapped to lead integration when Space Coast Credit Union acquired Eastern Financial Florida Credit Union, has been promoted to chief operating officer.
Senior management is the among the first casualties at Sperry Associates Federal Credit Union as the cooperative attempts to correct a number of troubled capital, operational and lending issues recently ordered by the NCUA.
The $345 million Sperry Associates Federal Credit Union announced today that Dan Capece, its interim president, and Sandy Albert, human resources consultant, will no longer work at the credit union.
Three months after Sperry Associates Federal Credit Union signed a letter of understanding and agreement with the NCUA to repair troubles within its loan program,
The website and phone number for CU Business Capital LLC, which was owned by Eastern Financial Florida Credit Union, are both inoperable in light of a loan participation lawsuit.
Extensive investments in collateralized debt obligations, unrealistic growth patterns that went unchecked and the failure of state and federal examiners to
Extensive investments in collateralized debt obligations, unrealistic growth patterns that went unchecked and the failure of state and federal examiners to realize the risk of certain practices all helped cause the failure of Eastern Financial Florida CU.