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
Did you ask @CommonwealthCU CEO a fin. question on #heyKaren day? She'll answer #likeaboss http://t.co/2PgZAp9qu0 https://t.co/RySBvM4rBc
9 hours ago
Texans linebacker Cushing continues outreach, spokesman role for @FirstCommCU http://t.co/wIUGhn9okM
13 hours ago
Despite what consumers say, big banks still hold sway over market via @Marketplace http://t.co/ozH69d8soj
15 hours ago
Erie, Pa., Americo FCU CEO praises staff for actions during robbery http://t.co/yyhaPnDtXh
15 hours ago
"Shreditorial" praises good deeds of @DannemoraFedCU http://t.co/06qKe0mhzR
15 hours ago