With a heavy concentration in member business loans, Telesis Community Credit Union may not have been prepared for fluctuations in that market.
At a time when credit unions were treading lightly, Telesis Community Credit Union was considered by some to be an early leader in the commercial lending space.
ICBA says Telesis Community lending practices shows why Senate member business lending bill "threatens the entire credit union sector."
Seizure of California credit union puts focus on career of Grace Mayo, CEO and industry leader.
California credit union placed into conservatorship on Friday; questions remain whether overreach contributed.
Several of Telesis Community Credit Union member business loan categories have been in a free-fall since at least 2010.
The NCUA said Friday night it has assumed conservatorship of Telesis Community Credit Union in California and liquidated Saguache County Credit Union in Moffat, Colo.
Payment to David Maus at $1.1 billion Public Service Employees CU in Denver represented retirement payout, credit union says.
Credit union auto buying service Autoland Inc. said it is back in good standing after the Oregon Department of Consumer and Business Services issued an enforcement action against the firm for operating without a license.
Autoland Inc. said it discovered an administrative error in a mid-2009 operational audit that prompted it to contact the Oregon Department of Consumer and Business Services Insurance Division about a license lapse.