ALEXANDRIA, Va.-NCUA activated a special examinations team that will focus on the biggest troubled credit union cases around the country.
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The National Examination Team will focus on credit unions in particularly hard hit markets in California, Nevada, Arizona and Florida where troubles in real estate markets have taken a major toll on credit unions.
The team will focus initially on 10 credit unions, among them are: Wescom CU, Kinecta FCU, Telesis Community CU, Eastern Financial Florida CU, Arizona FCU, which have all reported large losses through the first three quarters of the year.
The team is comprised of a director, five problem case officers, and one loss risk analysis officer.
