Negotiations were reportedly continuing in secret last week between the Nevada Financial Institutions Division, American Share Insurance Corp. and the troubled $883 million Silver State Credit Union regarding an anticipated capital infusion to restore financial stability to the Las Vegas credit union.
|In a statement, Commissioner George Burns said the division "continues to work diligently with Silver State to make sure they are operating as safely and soundly as possible." And he added, "We will be sure to advise the public immediately if anything material changes in their situation."
|Talks between the regulator, the Ohio-based private insurer and Silver State management have been ongoing since late last month about a cash infusion from ASI to fix the CU's balance sheet and prevent a conservatorship or takeover by another credit union. –[email protected]
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? Sign In
© 2024 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.
