Less than a month after issuing a cease and desist order, the NCUA conserved Borinquen Federal Credit Union of Philadelphia on Friday.

The agency didn’t state its specific reason for conserving the $7 million CU but said the agency “will work to resolve issues affecting the institution’s safety and soundness.”


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.