The National Credit Union Administration activated a special examination team last week that will focus on the largest credit unions in places hit hardest by the real estate downturn.
The National Examination Team will initially focus on 10 credit unions in California, Nevada, Arizona, and Florida that reported large losses for the first three quarters of last year.
They include the $3.4 billion-asset Wescom Credit Union in Pasadena, Calif.; the $4.2 billion-asset Kinecta Federal Credit Union in Manhattan Beach, Calif.: the $580 million-asset Telesis Community Credit Union in Chatsworth, Calif.; and the $1.8 billion-asset Eastern Financial Florida Credit Union in Miramar.
The team is made up a director, five problem case officers, and a loss risk analysis officer.
