The $16.5 million-in-assets Beverly Hills City Employees Federal Credit Union, Beverly Hills, Calif., was conserved Thursday by the National Credit Union Administration (NCUA), the agency said in a release.
In its announcement late Thursday, the NCUA said member services will continue while the agency works to resolve issues affecting credit union operations.
The agency’s website shows the credit union with five straight quarters of negative net income, along with negative net worth growth and negative return on average assets (ROAA).
The credit union, chartered in 1954, had a reported 1,542 members as of Sept. 30, the information shows.
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