Health One CU conserved

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May 20, 2014 – The Michigan Department of Insurance and Financial Services on Friday placed Health One Credit Union into conservatorship and named NCUA as the agent to handle the credit union’s day-to-day operations.

The Michigan Department of Insurance and Financial Services cited unsafe and unsound practices in announcing the conservatorship. Health One CU has 3,882 members and assets of $18.2 million, according to the credit union’s March 31 call report.

Health One CU serves residents of Macomb, Oakland, Washtenaw and Wayne counties in Michigan, as well as other groups, and also operates a branch in Cleveland, Ohio.

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NCUA release