SAN FRANCISCO – NCUA yesterday said it approved the return of credit union giant Patelco CU to coverage under the National CU Share Insurance Fund, after a five year absence.
The $4.1 billion credit union converted to private deposit insurance under ASI of Dublin, Ohio, in 2002.
Patelco reported net income of $8 million for 2007, after reporting an $8 million loss due to troubles on its subprime auto loans in 2006.