Western Federal Credit Union purchased and assumed the assets of Oakland Municipal Credit Union after the NCUA was named Oakland Municipal's liquidating agent.
Oakland Municipal, which had assets of $88 million, had serious financial problems last year. Its net income fell 689.9% in the fourth quarter, following a 272.8% decline in the third quarter.
Its net worth ratio was 4.95% in the fourth quarter, up from 4.73% in the third quarter.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
