When a litany of loan and management problems led to the demise of Telesis Community Credit Union earlier this year, the business lending CUSO it founded 17 years ago likely knew it would inherit a perception problem within the industry.
This preview from next week's print edition focuses on the challenge faced by Business Partners LLC following the Telesis collapse.
A year ago, unemployment was 14% around the Inland Empire in California, much higher than the national average.
Investment in CUSO drives net income down at California credit union.
The Riverside, Calif., credit union said it will return human beings to its Murrieta branch after it had been an ATM-only location for almost a year.
The Golden State’s credit unions may be nearing the end of their long journey to recovery. According to the California and Nevada Credit Union Leagues, California CUs made progress in 2011 in the areas of net income, net worth ratios, membership growth and loan performance.
The Credit Union Executives Society announced the election of its board officers for 2011-12 during its CEO/Executive Team Network gathering in Las Vegas.
Altura in California, AEA in Arizona back in black after earlier losses.
The $722 million Altura Credit Union, headquartered in Riverside, Calif., will close four branches and lay off 11% of its workforce.
The $722 million Altura Credit Union in Riverside, Calif., will close four branches and is apparently laying off 11% of its workforce.