Telesis Management Taken Over By Premier America

The $1.3 billion Premier America Credit Union has contracted with the NCUA to manage the assets of the seized $318 million Telesis Community Credit Union. Both credit unions are based in Chatsworth, Calif.

The federally insured, state-regulated Telesis was seized March 23 by the California Department of Financial Institutions, which then passed conservatorship authority to the NCUA.