Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Health One CU of Mich. is conserved
ALEXANDRIA, Va. (5/19/14)--The Michigan Department of Insurance and Financial Services recently detected unsafe and unsound practices at Detroit-based Health One CU and placed the state-chartered, federally insured credit union into conservatorship and named the National Credit Union Administration as agent to handle the credit union's day-to-day operations.

The state and federal regulators will work together to resolve issues affecting the credit union's safety and soundness while continuing normal credit union services to members.

Health One has 3,882 members and assets of $18.2 million, according to the credit union's March 31  Call Report. It was chartered in 1957 and serves those living in Macomb, Oakland, Washtenaw and Wayne counties in Michigan, as well as other select groups. The credit union also operates a branch in Cleveland, Ohio.

The NCUA has provided Health One members with an online frequently asked questions document that addresses conservatorship issues. Use the resource link to access the FAQs.
Other Resources

Health One CU FAQs (PDF)
RSS





print
News Now LiveWire
The U.S. Court of Appeals restored NCUA lawsuit v. Barclays Capital that charged misrepresenting quality of $550M IN RMBS. See News Now Wed.
5 hours ago
Registration is now open for the online livestreaming of @TheNCUA March 19 open board meeting. http://t.co/yOuqdXHlxj
10 hours ago
Registration is now open for online viewing of @TheNCUA's March 19 board meeting. https://t.co/mMZoXSFjMe
10 hours ago
.@CFPB Director Richard Cordray's testimony that he will deliver before the #HFSC this afternoon. http://t.co/NA1aEOPAeh
11 hours ago
Consumer spending flatlines, savings ramp up #Market #NewsNow http://t.co/94kPuBpMRK
12 hours ago