Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NCUA takes control of small Pa. CU
ALEXANDRIA, Va. (2/18/11)-- The National Credit Union Administration (NCUA) assumed control of operations at Greensburg Community FCU, Greensburg, Pa., on Thursday and assured service to its 983 members continues uninterrupted. In its release announcing the action, the NCUA noted that the decision to conserve a credit union enables the institution to continue normal operations with expert management in place correcting previous service and operational weaknesses. The Federal Credit Union Act authorizes the NCUA board to appoint itself conservator when necessary to conserve the assets of a federally insured credit union, protect members’ interests or protect the federal share insurance fund. Greensburg Community members can continue to conduct normal financial transactions--including depositing and accessing funds, make loan payments and use share drafts. Greensburg Community has assets of $2.2 million, and provides financial services to persons who live, work, worship, or go to school in, and business and other legal entities within a radius of three miles of the U.S. Post Office in Greensburg. This is the first federal credit union conservatorship of 2011. There have been two liquidation so far this year.


RSS print
News Now LiveWire
Housing starts swell in July #NewsNow #Market http://t.co/EdKIhXEj9l
14 hours ago
Consumer inflation tapers after spring surge #NewsNow #Market http://t.co/bgvQd8fyuF
14 hours ago
Have you read this one today in #NewsNow? What NCUA examiners look for on cybersecurity efforts: NCUA Report http://t.co/4g5wUavUAe
15 hours ago
.@CFPB sets $2.75M fine v. auto finance co. it says "distorted consumer credit records for years": TX-based First Investors Fin. Serv. Group
16 hours ago
University, college #creditunions add fin ed to higher ed. See #NewsNow http://t.co/NsyshwHPhg
17 hours ago