Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Large California CU placed in conservatorship
ALEXANDRIA, Va. (9/4/08)—The National Credit Union Administration (NCUA) has been named conservator of state-chartered Valley CU, San Jose, Calif., to ensure safe and sound credit union operations and continuing service to members. The California Division of Financial Institutions appointed NCUA as conservator because of the declining financial condition of the $257 million-asset credit union, according to an NCUA release. The credit union has almost 27,000 members, three branch offices, and was originally chartered in 1953 to serve telephone company employees. In announcing it accepted the role of conservator, the NCUA noted that member accounts are insured to at least $100,000 while IRA and KEOGH retirement accounts are insured up to $250,000 under coverage provided by the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF, the agency reminded, is backed by the full faith and credit of the Unite States government. The NCUA added that excess insurance protection is currently provided by private insurer American Share Insurance of Dublin, Ohio. Members with questions about their insurance coverage can contact NCUA’s Region V Division of Insurance at 602-302-6000 Monday through Friday during business hours. Use the resource link below to access the NCUA website.
Other Resources

RSS





print
News Now LiveWire
Why a #creditunion can be a good fit for #smallbiz http://t.co/l7Df9b8vQZ @fundbox
31 minutes ago
Who's most adept at saving these days? The middle class, says @Bankrate http://t.co/zVi7typdVU
59 minutes ago
.@OregonCCU donates $20K in Sprint program monies to @CMNHospitals @CU4Kids via @NWCUA http://t.co/0wTAH5NTNI
1 hour ago
.@TheNCUA posts latest economic update videol discusses 2015 outlook and "looming risk." https://t.co/hMYTAuvzMz
2 hours ago
.@TheNCUA issued orders prohibiting 7 from participating in affairs of any federally insured FIs. See #NewsNow Wed. http://t.co/UFBxuYDB8T
3 hours ago