NCUA policymakers provided a few more clues into conservatorship procedures in the wake of industry concern over when and how purchase and assumption deals are arranged with bidders for involuntary mergers.
The issue has come into sharper focus in recent days following the conservatorship of the $808 million Arrowhead Central Credit Union of San Bernardino, Calif. and a trio of failures in Utah.
Queried on the NCUA policy by Credit Union Times, John McKechnie, director of public and congressional affairs, stressed that each conservatorship case is different and that "typical considerations in a decision to conserve vs. award a bid include: overall financial condition of the credit union, loan portfolio, and compatibility of field of membership."
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