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April 23, 2015

NCUA conserves Ohio-based CU

NCUA announced Thursday that Dayton, Ohio-based Montgomery County Credit Union would be put under the agency's conservatorship due to "the discovery of unsafe and unsound practices."

The state-chartered, federally insured Montgomery County CU has $27.3 million in assets and more than 6,000 members.

The Ohio Division of Financial Institutions appointed NCUA as conservator and will work with NCUA to "resolve issues affecting the credit union's safety and soundness." NCUA said the credit union's members can continue with their financial transactions as normal.

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