ALEXANDRIA, Va. (7/30/12)--Trinidad, Colo.-based Trinity CU has been taken under conservatorship, the National Credit Union Administration (NCUA) announced Friday.
The Colorado Division of Financial Services placed the $4 million asset, 1,100-member credit union into conservatorship and appointed the NCUA as conservator last week.
The credit union is in troubled financial condition, and the NCUA said it would work to resolve safety and soundness issues at the credit union. The credit union will provide normal member services during the conservatorship, the NCUA said.
Trinity was founded in 1939 to serve the members of Trinidad's Holy Trinity Parish, but has expanded its charter to serve residents of Las Animas County, Colo.