While operating under a conservatorship, the $117 million Keys Federal Credit Union in Key West, Fla., posted a net income of $1.2 million in 2014, almost four times higher than the 2013 level of $307,672, according to data from the NCUA.
The net worth ratio improved by 114 basis points to 5.2% for the year ending Dec. 31, 2014. Total loans increased by $4 million in 2014, with the majority of the growth in auto lending.
In September 2009, Keys FCU voluntarily entered into conservatorship. The NCUA said it has worked with the management team and staff to improve the credit union's financial condition and maintain services for the institution's 10,217 members.
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