LAS VEGAS – One Nevada CU, formerly known as Nevada FCU, reported a net loss of $4.8 million for 2011.
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“As the local economy continues to struggle, we are pleased that our credit union remains well capitalized,” said Brad Beal, president of the $665-million credit union.
Nevada’s largest federally insured credit union reported more than 12,000 new members joined in 2011, giving the credit union 77,000 members statewide.
In October, One Nevada completed its name change from Nevada FCU as part of its conversion from a federally chartered credit union to a state-chartered, federally insured financial institution.
