Mutual Savings Credit Union, Shelby County, Alabama

Thursday, August 6th, 2009

Mutual Savings Credit Union, a Shelby County financial institution with 41,700 members and $192 million in assets, was placed into conservatorship by the Alabama Credit Union Administration on Friday. The Alabama Credit Union Administration seized the credit union’s operations and relieved the CEO and board of directors of their duties. Tom Tatum ...

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Mutual Bank, Harvey, IL

Sunday, August 2nd, 2009

Mutual Bank, Harvey, IL became the 69th FDIC closure for the year 2009 and one of 24 for the month of July alone. Regulators shut down banks in five states on Friday, including Mutual Bank of Harvey. The bank's president, Amrish Mahajan, was a top fund-raiser for ex-Gov. Rod Blagojevich and a ...

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