The NCUA took control of day-to-day operations at the $13.5 million Parsons Pittsburg Credit Union in Parsons, Kan. on Jan. 24, blaming unsafe and unsound practices.
Kansas credit union reported 9.39% net worth as of Sept. 30.
Norfolk, Va., credit union paid three times in operating expenses what it made in gross income in 2012.
Seven weeks after slapping it with a cease-and-desist order, the NCUA has placed Philadelphia’s People for People Community Development Credit Union into conservatorship.
NCUA ends first week of 2012 with first conservatorship of year: Philadelphia's People for People CDCU.