A series of “underperforming loans” was said the undoing of Tillamook County-based TLC Federal Credit Union. TLCCU was declared insolvent around the first of the month and was allowed to be bought by Fibre Federal Credit Union based in Longview, WA.
Reports say everything for TLCCU customers will remain the same but there will be some changes in certain areas of banking that will be modified slightly as the two credit unions merge into a single computer system.
The story is in the Oregonian. Click here.