Search
 

Bank Failure Triggers 'On-Job' Deposit Insurance Training to CUs

TUCSON, Ariz. -- On top of the IndyMac Bank collapse in California, the weekend failure of a large Arizona/Nevada bank holding company is providing some challenging on-the-job training this week for Tucson credit unions in getting out the deposit insurance message and dealing with the media on safety/soundness queries.

By Jim Rubenstein | Updated on July 29, 2008

TUCSON, Ariz. — On top of the IndyMac Bank collapse in California, the weekend failure of a large Arizona/Nevada bank holding company is providing some challenging on-the-job training this week for Tucson credit unions in getting out the deposit insurance message and dealing with the media on safety/soundness queries.

“I’ll bet we had couple hundred calls to our offices yesterday and over the weekend as a result of that failure,” declared Ray Alexander, president/CEO of the $65 million Pyramid CU, referring to staffers fielding calls from worried members following the Mutual Bank of Omaha takeover of First National Bank of Arizona plus two banks in Reno and Newport Beach, Calif.

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?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

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

Copyright © 2023 ALM Global, LLC. All Rights Reserved.