Resolving “issues affecting the credit union’s operations” was the stated basis for conservation of a small Arkansas credit union late last week, the federal regulator said, and indicated member services would now be provided by another credit union in the state.
The National Credit Union Administration (NCUA) Jan. 16 only described the issues as “unsafe and unsound practices at the credit union” affecting the now-conserved People Trust Community Federal Credit Union (FCU) in North Little Rock, Ark.
Members were advised that services for them will “continue uninterrupted” at the branch of Arkansas FCU (AFCU) in Little Rock.
“People Trust Community members can continue to conduct normal financial transactions, deposit and access funds, make loan payments, and use shares,” NCUA advised at the AFCU branch. However, it noted that “no drive through service will be available for People Trust Community member transactions.”
The agency noted that People Trust Community FCU counts 1,796 members and holds assets of $3,276,409 (according to the most recent call report). The credit union serves Pulaski and Saline Counties in Arkansas, the agency said.
People Trust Community Federal Credit Union Conserved
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