Archive for the ‘CREDIT UNION CONSERVATORSHIPS’ Category

Hmong American Federal Credit Union of St. Paul, Minnesota

Wednesday, May 4th, 2011

Hmong American Federal Credit Union of St. Paul, Minnesota, was placed into conservatorship by the National Credit Union Administration (NCUA) today. The credit union remains open and operating, although services have moved to a new location. While continuing normal member services, NCUA will work to resolve issues affecting the institution’s safety ...

Valued Members Federal Credit Union of Jackson, Mississippi

Wednesday, May 4th, 2011

Valued Members Federal Credit Union of Jackson, Mississippi, was placed into conservatorship by the National Credit Union Administration (NCUA) today. Valued Members Federal Credit Union remains open and operating. While continuing normal member services, NCUA will work to resolve issues affecting the Valued Members Federal Credit Union’s safety and soundness. Deposits at ...

Texans Credit Union of Richardson, Texas

Friday, April 15th, 2011

Texans Credit Union of Richardson, Texas, was put into conservatorship tonight by the National Credit Union Administration (NCUA). The NCUA said Friday night that it had placed Texans Credit Union of Richardson into conservatorship. Texans Credit Union currently has 133,000 members and assets of $1.6 billion. The serves Collin, Dallas, Rockwall, Travis, ...

Vensure Federal Credit Union, Mesa, Arizona

Friday, April 15th, 2011

Vensure Federal Credit Union, Mesa, Arizona, was tag teamed by the National Credit Union Administration (NCUA) and the U.S. Attorney for the Southern District of New York. It seems that Vensure Federal Credit Union was a laundering money for an internet gambling company. Vensure Federal Credit Union booked no loans in 2010 ...

Greensburg Community Federal Credit Union of Greensburg, Pennsylvania

Friday, February 18th, 2011

Greensburg Community Federal Credit Union of Greensburg, Pennsylvania, came one step closer to implosion today as The National Credit Union Administration (NCUA) assumed control of its operations. The NCUA placed the $2.2 million Greensburg Community FCU into conservatorship yesterday. During the fourth quarter of 2010 its assets declined 10.9% which followed a ...

Southwest Corporate Federal Credit Union of Plano, Texas,

Saturday, September 25th, 2010

Southwest Corporate Federal Credit Union of Plano, Texas, was one of three credit unions to be place into conservatorship by the National Credit Union Administration last night. The seizures may cost as much as $50 billion, and brings a number of unions seized by the agency and wide and why did this ...

Members United Corporate Federal Credit Union in Warrenville, Ill.

Saturday, September 25th, 2010

Members United Corporate Federal Credit Union in Warrenville, Ill., was one of three credit unions to be place into conservatorship by the National Credit Union Administration last night. The seizures may cost as much as $50 billion, and brings a number of unions seized by the agency and wide and why ...

Certified Federal Credit Union, Commerce , California

Saturday, July 31st, 2010

Certified Federal Credit Union, Commerce , California, became the 12th federally insured credit union in the nation to be closed in 2010, when it was placed placed into conservatorship by federal regulators. This isn't a failure, but these conservatorships often lead to liquidations. Certified Federal Credit Union in the City of Commerce was ...

St. Paul Croatian FCU, Eastlake, Ohio

Monday, April 26th, 2010

St. Paul Croatian FCU, Eastlake, Ohio, was placed into conservatorship today by The National Credit Union Administration (NCUA). Following a quarter in which St. Paul Croatian FCU reported a substantial decline in the value of its real estate and secured loans, the NCUA on Friday placed it into conservatorship. The action means ...

Tracy Federal Credit Union

Wednesday, March 24th, 2010

Tracy Federal Credit Union, went from the frying pan into the fire as Federal placed the ailing institution into conservatorship on Friday and then put the ailing institution out of it's misery today turning it over to the Valley First Credit Union of Modesto. The 5,900 members of Tracy Federal Credit ...