NCUA places Texas credit union into conservatorship

The National Credit Union Administration has conserved its first institution in 2023.The NCUA announced Friday that it took temporary control of Va...

January 23, 2023
10:04 PM

The National Credit Union Administration has conserved its first institution in 2023.The NCUA announced Friday that it took temporary control of Valwood Park Federal Credit Union in Carrollton, Texas, to confront worries about unsafe and unsound business practices. The $28 million-asset credit union has roughly 2,833 members across the state in Carrollton, Farmers Branch and Addison."While continuing normal member services, the NCUA will work to resolve issues affecting the credit union's operations," the agency said in a press release.

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