Sunday, Jul 24, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Local

Toledo Urban credit union meets auditors' concerns

The Toledo Urban Federal Credit Union is now in compliance with regulator demands for improved equity, earnings, and operations, satisfying a nearly year-old agreement made after a federal audit found problems.

The National Credit Union Administration this month terminated a letter of understanding with the Toledo financial institution after it became compliant with the stipulations. Most notably, the credit union through August significantly increased net worth by $139,440 - or nearly 7 per cent of assets - through a combination of grants, donations, and earnings, according to the administration.

Failure to resolve the problems could have meant fines or sanctions, including closure.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…