Many unanswered questions continued to swirl last week over the causes, fate and future course of the conserved $318 million Telesis Community Credit Union.
Telesis is now run under an April 2 NCUA management contract awarded the $1.3 billion Premier America Credit Union, which like Telesis is based in Chatsworth, Calif., a suburb north of Los Angeles.
Much of the behind-the-scenes talk among CEOs and analysts in the Golden State, Washington and elsewhere centers on what soured Telesis' business loan portfolio for such a long period and the difficulties the NCUA must have had in finding new operators of a credit union experiencing such a losing streak stretching back to 2007.
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