Share insurance fund premiums and impairments hit the $162 million Community One Federal Credit Union especially hard, helping to knock the Las Vegas-based credit union down to 2% capital, including optional assets.
However, credit union managers aren't anticipating a surprise Friday afternoon visit from the NCUA.
"We've been working with NCUA since the beginning of year, and because of our capital situation, NCUA has been monitoring us," said Jerry Rosen, vice president of marketing. "We have a good working relationship with them, and they've allowed us to continue our operations and make business decisions that will improve our capital position."
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