ALEXANDRIA, Va. — The NCUA announced on Friday that the State of Colorado had assumed control of the operations of Zion United Community Credit Union, a state-chartered, federally insured CDCU in Denver.

State Regulator Chris Myklebust has appointed several credit union leaders as an advisory board to monitor operations as the CU continues to serve its 1,300 members. That measure is “intended to foster creative ways to help the credit union survive its current problems,” Myklebust told CUNA's News Now on Friday. The NCUA news release reminded that member funds are federally insured up to at least $100,000 per account by the National Credit Union Share Insurance Fund (NCUSIF). The advisory board group members are: Darrell E. Nulan of Trimble Nulan and Evans, P.C., an attorney and community leader; The Rev. John Thompson, senior minister of Park Hill United Methodist Church and community leader; Stacey A. Campbell of Baker Hostetler, attorney and community leader; Valerie A. Harrison, credit union program officer, National Federation of Community Development CUs; Carla Hedrick, president/CEO, of Denver Community FCU; and Darrick Weeks, chief business development officer, Westerra CU.