Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CENTENNIAL, Colo. – Centrix Financial, one of the largest subprime indirect auto lenders doing business with credit unions, is still apparently feeling the effects of the Risk Alert Letter NCUA issued in June concerning guidelines for credit unions involved with third-party subprime indirect vendors. As part of a company restructuring, Centrix laid off 100 employees Nov. 17. Centrix also announced it is merging its two operating divisions, the loan production group and the loan management group. The latest lay-off announcement is the second the company has made since the NCUA issued its Risk Alert Letter. In mid-September, Centrix laid off 150 employees – 10% of its workforce – when business began slowing down following the NCUA’s issuance of the Risk Alert Letter.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.