Jim DuPlessis on Muck Rack

Jim DuPlessis

South Carolina
As seen in: Credit Union Times, LinkedIn, Yahoo News, Law.com, Lexington Herald-Leader, Frankfort State Journal, CUInsight.com, Grayson County News, World Today News, Archyworldys, The Hoops News and
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Articles

NCUA Finds $92 Million in Phantom Worth at Jackson Area FCU

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By Jim DuPlessis
| Credit Union Times
When Jackson Area Federal Credit Union filed its first quarter call report a little more than a month ago, it showed a credit union with $143.2 million in assets and a net worth of $13.6 million. NCUA conserved the Mississippi credit union May 9, citing unsafe and unsound practices. When NCUA filed a revised report May 15, it had wiped away $91.7 million in net worth. The issue wasn't bad loans that had to be written off. It was something else.
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HELOCs Fuel April Lending Gains

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By Jim DuPlessis
| Credit Union Times
Credit union portfolios swelled modestly in April once again on the strength of HELOCs and other second-lien residential loans, according to data from America's Credit Unions. AmCU's loan estimates drawn from Equifax data, which excludes commercial loans, showed loans rising 2.2% over the 12 months ending April 30 and up 0.2% from a month earlier, compared with the average March-to-April gain of 0.4% from 2016 through 2025.
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Conserved Jackson Area FCU's $91.7M Loss Lowers Industry ROA in First Quarter

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By Peter Strozniak , Jim DuPlessis
| Credit Union Times
The conserved Jackson Area Federal Credit Union posted a net loss of $91.7 million, according to the NCUA's first quarter financial performance reports. The loss was large enough to lower the industry's return on average assets by more than one basis point for the first quarter of the year. CU Times previously reported the industry ROA was 0.86% for Q1, but with Jackson Area's net loss included, it fell to 0.85%.
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