$4 million Chicago credit union credit union conserved

A $4 million credit union in Chicago, with about 1,300 members, was placed into conservatorship by the National Credit Union Administration (NCUA) Wednesday; the credit union remains open and serving its members. NCUA said that it took the action against Beverly Bus Garage Federal Credit Union because of unsafe and unsound practices at the credit union. “While continuing normal member services, the NCUA will work to resolve issues affecting the credit union’s operations,” the agency said. The credit union serves employees of the Chicago Transit Authority at the Beverly Bus Garage in Chicago, employees of the credit union, members of their immediate families and organizations of such persons.

Beverly Bus Garage Federal Credit Union Conserved

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