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By Heather Anderson |
March 27, 2013
The NCUA’s Inspector General blamed Telesis Community Credit Union’s former management and board as well the NCUA and California Department of Financial Institutions for the Chatsworth, Calif.-based institution’s failure in a material loss review released March 20.
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By Michelle A. Samaad |
December 19, 2012
The NCUA announced on April 2 that it has contracted with the $1.3 billion Premier America Credit Union to manage the assets of the $318 million Telesis Community Credit Union during Telesis’s conservatorship. Both credit unions are based in Chatsworth, Calif.
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By Jim Rubenstein |
May 7, 2012
Conserved California credit union continues five-year string of losses.
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By Jim Rubenstein |
April 22, 2012
Many unanswered questions continued to swirl last week over the causes, fate and future course of the conserved $318 million Telesis Community Credit Union.
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By Jim Rubenstein |
April 1, 2012
After years on a regulatory watch list, NCUA and the California Department of Financial Institutions finally pulled the plug last week on the $318 million Telesis Community Credit Union, placing the Los Angeles-based credit union into conservatorship. The NCUA was appointed conservator, ending a troubled saga.
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By Marc Rapport |
March 26, 2012
ICBA says Telesis Community lending practices shows why Senate member business lending bill "threatens the entire credit union sector."
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By Jim Rubenstein |
March 26, 2012
Seizure of California credit union puts focus on career of Grace Mayo, CEO and industry leader.
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By Michelle A. Samaad |
March 26, 2012
California credit union placed into conservatorship on Friday; questions remain whether overreach contributed.
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By Michelle A. Samaad |
March 26, 2012
Several of Telesis Community Credit Union member business loan categories have been in a free-fall since at least 2010.
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By David Morrison |
March 23, 2012
Payment to David Maus at $1.1 billion Public Service Employees CU in Denver represented retirement payout, credit union says.
