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Wis. CU put into conservatorship

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ALEXANDRIA, Va. (2/21/12)--A M Community CU, Kenosha, Wis., Friday became the second federally insured credit union placed into conservatorship during 2012 when the National Credit Union Administration (NCUA), working cooperatively with the Wisconsin Office of Credit Unions, assumed control of service and operations.

Under the conservatorship, the $125-million asset credit union will be able to continue normal member services, while the NCUA works to resolve issues affecting the institution's safety and soundness. A M Community has about 16,000 members.

A M Community is a state-chartered, federally insured credit union whose membership is comprised of those who live or work in Wisconsin's Kenosha and Racine counties, as well as any employee of Chrysler Corporation.