The NCUA announced Monday evening that it has contracted withthe $1.3 billion Premier America Credit Union to manage the assetsof the $318 million Telesis Community Credit Union during the latter'sconservatorship. Both credit unions are based in Chatsworth,Calif.

The NCUA was named conservator of Telesis after the California Department of FinancialInstitutions took over the credit union March 23. The agencyemphasized that the credit union remains open, operating businessas usual to members, and deposits are insured up to $250,000.

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Credit Union Management
Regulatory & Compliance
Lending