Sunday, February 7, 2010
Economy Takes a Toll on Kern County CUs
Here is a story about the economy taking a toll on Kern County, California credit unions.
Bulk of the losses incurred by Kern County credit unions reside at Kern Schools FCU, which reported a loss of $40.6 million. The credit union as of the end of 2009 was undercapitalized.
In an October 20, 2009, I reported that Kern Schools was under a supervisory agreement to rebuild its capital.
Bulk of the losses incurred by Kern County credit unions reside at Kern Schools FCU, which reported a loss of $40.6 million. The credit union as of the end of 2009 was undercapitalized.
In an October 20, 2009, I reported that Kern Schools was under a supervisory agreement to rebuild its capital.
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