Archive for the ‘CREDIT UNION CONSERVATORSHIPS’ Category

Community Development Federal Credit Union

Monday, February 11th, 2013

Community Development Federal Credit Union, is the second first  insured credit union to be placed into  conservatorship in 2013, as The National Credit Union Administration (NCUA) has assumed control of service and operations.  The members held approximately $2 million in assets.  The National Credit Union Administration (NCUA) today assumed control of service and operations ...

Chetco FCU of Harbor, Oregon

Wednesday, January 2nd, 2013

Chetco FCU of Harbor, Oregon, moves from the frying pan to the fire as the National Credit Union Administration announced Friday that it had dived the carcass among two other credit unions. The failure of  Chetco FCU brings to 14 the number of failures in 2012. The NCUA announced late Friday that after 15 months ...

Trinity Credit Union, Trinidad, Colorado

Wednesday, August 1st, 2012

Trinity Credit Union, Trinidad, Colorado, became a ward of the  National Credit Union Administration (NCUA)  was placed under conservatorship  due to it's declining financial condition.  The National Credit Union Administration (NCUA) today assumed control of service and operations at Trinity Credit Union, a state-chartered, federally insured credit union headquartered in Trinidad, Colo. The Colorado Division ...

Telesis Community Credit Union

Monday, March 26th, 2012

Telesis Community Credit Union, is the third federally insured credit union placed into conservatorship during 2012. The $1.1 billion Public Service Employees Credit Union  who's CEO was paid more than $9.8 million for his work in 2010, has been appointed the National Credit Union Administration (NCUA) as conservator. The California Department of Financial Institutions today placed Telesis ...

People for People CDCU, Philadelphia, Pennsylvania

Monday, January 9th, 2012

People for People CDCU, Philadelphia, Pennsylvania, has the dubious distinction of being the first credit union of the new year to be placed into conservatorship by the National Credit Union Administration (NCUA). The National Credit Union Administration (NCUA) today assumed control of service and operations at People for People Community Development ...

Birmingham Financial Federal Credit Union

Sunday, October 30th, 2011

Birmingham Financial Federal Credit Union, has been placed into conservatorship by The National Credit Union Administration (NCUA). The NCUA conserved and moved the office of Birmingham Financial FCU on Thursday. The $1.3 million Alabama credit union has experienced a decline in assets and certain key ratios, according to its Financial Performance Report. The 429-member credit ...

Chetco Federal Credit Union, Harbor, Oregon

Tuesday, September 27th, 2011

Chetco Federal Credit Union, Harbor, Oregon, is the ninth federally insured credit union to be placed into conservatorship by the National Credit Union Administration (NUCA) during 2011. Federal regulators have taken over the Chetco Federal Credit Union in the town of Harbor, on the Southwest Oregon Coast. The National Credit Union Administration kept ...

O.U.R. Federal Credit Union of Eugene, Oregon

Saturday, June 25th, 2011

O.U.R. Federal Credit Union of Eugene, Oregon, became the eighth federal credit union placed into conservatorship by the National Credit Union Administration (NCUA) this year. The NCUA on Friday conserved O.U.R. Federal Credit Union of Eugene, Ore. and promised to work to resolve issues that impact the financial institution’s safety and ...

Borinquen Federal Credit Union Philadelphia, Pennsylvania

Friday, June 24th, 2011

Borinquen Federal Credit Union Philadelphia, Pennsylvania,  is the seventh federally insured credit union placed into conservatorship during 2011. The National Credit Union Administration (NCUA) today assumed control of service and operations at Borinquen Federal Credit Union of Philadelphia. While continuing normal member services, NCUA will work to resolve issues affecting the institution’s safety and ...

Valued Members Federal Credit Union of Jackson, Mississippi

Wednesday, June 1st, 2011

Valued Members Federal Credit Union of Jackson, Miss., which had been placed into conservatorship by the National Credit Union Administration (NCUA), was purchased today  by Magnolia Federal Credit Union. The $104 million Magnolia Federal Credit Union has purchased the assets of the $9 million Valued Members Federal Credit Union, both of Jackson, ...