May 4, 2011 – 6:04 pm

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 and soundness.

Deposits at Hmong American Federal Credit Union remain protected. Administered by NCUA, the National Credit Union Share Insurance Fund (NCUSIF) continues to insure individual accounts at Hmong American Federal Credit Union up to $250,000. The NCUSIF, like the FDIC’s Deposit Insurance Fund, has the backing of the full faith and credit of the U.S. Government.

Hmong American Federal Credit Union’s new location is 56 East 6th Street, Suite 314, St. Paul, MN 55101. Credit union members may continue to reach the credit union at (651) 228-0455.