The NCUA said Friday night it has assumed conservatorship of the$318 million Telesis Community Credit Union in Chatsworth, Calif.,and liquidated the $17 million Saguache County Credit Union inMoffat, Colo.
News Updates:
March 26,2012: Telesis Business Loans Swimming in Red Ink
March 26,2012: Telesis Business Lending CUSO to Continue toOperate
March 26,2012: Community Banking Lobby Seizes on TelesisSeizure
March 26,2012: Telesis CEO Grace Mayo Called Innovator,Leader
March 26,2012: Telesis May Have Been Unprepared for NicheFluctuations
March 28,2012: Telesis Autoland CUSO to Continue toOperate
April 2,2012: Telesis Management Taken Over by PremierAmerica
May 7, 2012, Telesis Reports $13.8 Million First QuarterLoss
State-chartered, federally insured Telesis Community was placedinto conservatorship earlier in the day by the CaliforniaDepartment of Financial Institutions, which then appointed the NCUAas conservator, the agency said.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 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.
