Latest developments from the NCUA (National Credit Union Administration), prudential regulator of federal credit unions and savings insurer for members of federal and state credit unions.
Agency closes small MD credit union after ‘imminent insolvency’ feared
After a determination of “imminent insolvency” by its federal regulator, a Maryland credit union was closed late Friday, allowing another credit union in the state to assume the members and shares of the shuttered institution. […]