Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Va CDCU is assumed by NCUA
ALEXANDRIA, Va. (2/11/13)--The National Credit Union Administration announced that it will continue normal member services while it works to address service and operational concerns at NCP Community Development FCU, of Norfolk, Va.

The NCUA assumed control of the small, $2 million-asset credit union Friday. The National Credit Union Share Insurance Fund insures individual accounts at NCP Community Development FCU up to $250,000.

NCP, currently with 709 member, has served a low-income community in the Hampton Roads area for 14 years. Members can continue to conduct financial transactions, including deposit and access funds, make loan payments and use shares.

The Federal Credit Union Act authorizes the NCUA to appoint itself conservator when necessary to conserve the assets of a federally insured credit union, protect members' interests, or protect the Share Insurance Fund.

NCP Community Development FCU is the first federally insured credit union placed into conservatorship in 2013.


RSS print
News Now LiveWire
Consumer trust in #creditunions remains consistent. Banks? Less so, says @HarrisPoll See #NewsNow http://t.co/ktljPRzt3W
40 minutes ago
#SupremeCourt to hear mortgage rescission case Tuesday. See #NewsNow http://t.co/KbWoWtzQRD
52 minutes ago
Of $1.3B in payments through mobile devices, 90% occurred at @Starbucks stores http://t.co/MN49JR1NXK
15 hours ago
.@LoveBethpage 1st to launch mobile debit/credit card control from @COOPFS http://t.co/kuq7onGuai
16 hours ago
A booming W Okla county gets its first #creditunion @TheHEFCU See #NewsNow http://t.co/svTyMnms0X
19 hours ago