Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NEW: NCUA Lifts Arrowhead Central CU Conservatorship
ALEXANDRIA, Va. (UPDATED: 5/24/13, 12 p.m. ET)--Control of the once-conserved Arrowhead Central CU has been returned to its members, the National Credit Union Administration reported today.

Arrowhead is the first credit union since 2007 to emerge from conservatorship, the NCUA noted.

"This is a very positive step for Arrowhead Central and its members, and a positive sign of the continued improvements in the economy and the credit union system," Credit Union National Association President/CEO Bill Cheney said.

The NCUA took the 116,000 member, $755 million-in-assets credit union into conservatorship in June 2010. At that time, Arrowhead's net worth ratio had fallen to 3%.

"From day one, we were dedicated to restoring sound operations and safeguarding members' hard-earned money," NCUA Chairman Debbie Matz added.

The agency said NCUA staff, a new leadership team, and a 10-member advisory board worked together to strengthen Arrowhead's loan underwriting standards, control costs and restore net worth.

The credit union this week reported a net worth ratio of 10.5%, quarterly net income of $5.6 million, and membership of more than 116,000, the NCUA said.

For more, use the resource link.
Other Resources

NCUA Release
RSS print
News Now LiveWire
.@BelvoirFederal revamped the checking acct. it offers to active duty military members and achieved 23% growth on the product in 1 mo.
13 hours ago
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
17 hours ago
The 54th Western CUNA Management School graduated 89 students on July 25.
18 hours ago
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
19 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
7 25 ago