NCUA Places Tracy FCU into Conservatorship
The NCUA placed Tracy Federal Credit Union of Tracy, Calif., into conservatorship late last Friday.
The $25.9 million credit saw its liabilities increase 27.2% during the last quarter of 2009 and a 89.6% decline in its net income, according to its financial report filed with the NCUA.
Its delinquency ratio was 3.85%, up from 3.54% in the third quarter.
It had a negative ROA as it had during the three previous quarters of 2009.
The NCUA noted that under the conservatorship, members will continue to have uninterrupted service.