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News Now

Washington
Members gain back control of their Omaha CU
ALEXANDRIA, Va. (12/18/07)—Control of an Omaha, Neb. federal credit union, whose board of directors and CEO were removed after a 2005 loss of $416,203--$391,000 of which was in the fourth quarter—has been placed back in the hands of its members, according to the National Credit Union Administration (NCUA). During a 22 months in conservatorship, “all material concerns” of $28 million-asset Union Pacific Streamline FCU were resolved, according to federal regulators. The credit union was placed into conservatorship Feb. 16, 2006, with the goal of returning the credit union operation to its approximately 7,000 members. At that time, Steven R. Slater, president/CEO, and Trudi Stastny, executive vice president, were placed on administrative leave. The NCUA also removed the credit union's board of directors after its examiners found problems with the $38 million asset credit union's performance.


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