ALEXANDRIA, Va. (11/4/13)--Mayfair FCU, Philadelphia, Pa., was placed under National Credit Union Administration conservatorship on Friday.
The agency will work to resolve safety and soundness issues at the 1,527 member, $14.3 million asset credit union during the conservatorship. Normal member services at the main office at 2844 St. Vincent St. in Philadelphia will continue uninterrupted, but the credit union's branch at 2645 Orthodox St. in Bridesberg, Pa., will be closed, the NCUA said.
Chartered in 1936, Mayfair FCU serves a low-income community in Philadelphia. It is the fourth federally insured credit union placed into conservatorship this year.
For the full NCUA release, use the resource link.