Press Releases Press Releases

PRESS RELEASE 12-02
March 23, 2012
Contact:  Alana Golden, Public Information Officer
(916) 323-7012 or (916) 322-5966
www.dfi.ca.gov

Telesis Community Credit Union Placed into Conservatorship

 

(SAN FRANCISCO, CA) - The California Department of Financial Institutions (DFI) today announced that Telesis Community Credit Union has been placed into conservatorship.

Telesis Community Credit Union is a federally insured, state-chartered credit union based in Chatsworth, CA with total assets of approximately $300 million. The DFI has appointed the National Credit Union Administration (NCUA) as conservator of Telesis Community Credit Union.

Telesis Community Credit Union remains open, operating and serving its members. Credit Union member funds are federally insured by the National Credit Union Share Insurance Fund up to at least $250,000. Members with additional questions about their insurance coverage may contact the NCUA’s Consumer Assistance Center toll free at 800-755-1030. The center answers calls Monday through Friday between 8:00 a.m. and 6:00 p.m. Eastern Daylight Time.

The NCUA’s press release regarding its appointment as conservator and additional details will be available on their Web site at www.ncua.gov.

The DFI oversees the secure operation of California's state-chartered financial institutions. California's financial institutions are symbols of safety and soundness. Protecting and serving California’s citizens through effective regulation and supervision remains the primary mission of the DFI. DFI ensures public confidence in financial institutions by protecting the interests of depositors, borrowers, shareholders and consumers through enforcement of state laws. In addition to posting information about the Department and its licensees, DFI's Web site features consumer tips on a variety of financial topics and consumer brochures in seven languages.

 

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