The conservatorship of WeDevelopment Federal Credit Union of Kansas City, Mo., ended with the credit union merged into CommunityAmerica Federal Credit Union, Lenexa, Kan., according to a release Tuesday.
The National Credit Union Administration (NCUA) placed WeDevelopment Federal Credit Union (FCU) into conservatorship July 10 after noting “unsafe and unsound practices.” Tuesday, the agency said that after analysis and stakeholder engagement, it determined merger was in the best interests of WeDevelopment’s members.
NCUA, in a release, said WeDevelopment FCU was chartered in 2022 and served underserved communities within 57 census tracts in Jackson County, Mo. Its most recent call report shows it had 1,015 members and $2.4 million in assets, the agency said.
WeDevelopment Federal Credit Union Merges into CommunityAmerica Federal Credit Union
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