Wisconsin's new Republican governor, Scott Walker, promoted Ginger Larson, supervisor in the Office of Credit Unions, to director of the division on Monday.
Southern Wisconsin's poor economy and bad commercial real estate loans apparently figured in the Sept. 1 failure of the $137 million First American
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."
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 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.