Coast Capital Savings [SEP] inception
Coast Capital Savings
Coast Capital Savings Federal Credit Union (formerly Coast Capital Savings Credit Union) is a member-owned financial co-operative headquartered in Surrey, British Columbia. By membership, it is the largest credit union in Canada with 535,000 members and $20.1 billion in assets. Coast Capital Savings has 52 branches in the Metro Vancouver, Fraser Valley, Okanagan and Vancouver Island regions of British Columbia.
History.
Coast Capital Savings found its beginnings in 1940 as a co-operative of BC government employees later
Barrington Capital Corporation, a West Coast mortgage bank, in September 2007.
History Decline.
The primary causes of IndyMac’s failure were largely associated with its business strategy of originating and securitizing Alt-A loans on a large scale. This strategy resulted in rapid growth and a high concentration of risky assets. From its inception as a savings association in 2000, IndyMac grew to the seventh largest savings and loan and ninth largest originator of mortgage loans in the United States. During 2006, IndyMac originated over $90 billion of