KENSINGTON, Md. — Lafayette Federal Credit Union appears to be shrinking.
In June of 2006, when the CU was in the early stage of an effort to change its charter to that of a mutual bank, the credit union reported $332.2 million in assets. As of June of this year that number had dropped to $295.8 million, according to NCUA data.
The credit union has yet to comment on the decline or on any of the other numbers in its financial report, such as decline in shares and other deposits by $25.6 million or the $8.8 million drop in total loans over the course of the year.
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