Telesis Community Credit Union Goes Into Conservatorship

Date March 27, 2012

On Friday, March 23rd, Chatsworth based Telesis Community Credit Union was placed into conservatorship by the Department of Financial Institutions (DFI), who has appointed the NCUA, the organization that regulates credit unions, as conservator.

Matadors Community Credit Union is Safe and Sound

MCCU wants to reach out to the community to assure them that we are financially healthy, and safe and sound:

  • MCCU deposits are federally insured by the NCUA for at least $250,000
  •  MCCU is very well capitalized. Our net worth ratio as of February 29, 2012 is 10.31%. Regulators consider a credit union well capitalized at 7%. Being well-capitalized means your credit union has solid financial strength.
  • MCCU has been in business since 1963.
  • MCCU offers Shared Branching so members can go to another credit union that may be more convenient for them to do their banking.
  • MCCU never did any risky business lending and are we are very conservative in our lending guidelines.
We would like to offer the following auto loan refinance special to our community:
  • $100 cash back for each car loan you fund with us
  • Rates as low as 1.99% APR*
  • 90 days no payments (interest will accrue)

For more information about MCCU, please contact us at 818.993.6328 or visit our website.

 

*APR=Annual Percentage Rate. Rates as of 1/01/12 and are subject to change at any time. Must meet credit and income criteria. Rate quoted is the preferred rate with a 24-month term. Subject to credit approval and membership eligibility. Other rates and terms available.  Sample Payment: $510.44 (based on 24 month new or used car loan, $12,000, 1.99% APR). Refinancing of existing MCCU Auto Loans not eligible. Restrictions may apply. Membership required.

 

Comments are closed.

%d bloggers like this: