The NCUA terminated its published Letter of Understanding and Agreement, dated June 11, 2013, with the $7 million Valley Pride Federal Credit Union of Plains, Pa.
The $7 million Pennsylvania credit union corrects problems with record keeping, internal controls and governance.
The NCUA has issued a cease and desist order to the $5.8 million North Dade Community Development Federal Credit Union of Miami Gardens, Fla.
The NCUA announced June 14 it had inked a letter of understanding and agreement with the $7.4 million Valley Pride Federal Credit Union of Plains, Pa. The LUA requires the 1,588-member credit union to take steps to correct unsafe and unsound practices, including:
Valley Pride Federal Credit Union shows loan struggles in NCUA reports.