DENVER — Despite falling under NCUA conservatorship last April, the $296 million New Horizons Credit Union of Denver remains viable with no plans for a merger, at least through the end of October, according to Colorado Banking Commissioner Chris Myklebust.
"We're very happy about that and we're glad that the NCUA has done its homework," said Myklebust, who helped oversee NCUA's takeover of the state's 10th largest CU when it experienced large loan delinquencies in its construction and subprime portfolio.
Myklebust said he received a report from NCUA recently that has delayed its recommendations on what to do about New Horizons relative to a possible merger until October.
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