The NCUA announced Friday that it released A.E.A FCU from conservatorship.

“Liquidation of a credit union is always a last resort. Our first priorities in a conservatorship are to minimize any loss to the NCUSIF and maintain service to members wherever possible,” Matz told CU Times. “In cases like A.E.A. Federal Credit Union, we also fulfill our statutory mandate under the Dodd-Frank Act to make every effort to preserve minority depository institutions. I felt it was especially vital to preserve credit union service to the underserved area of Yuma, where the predominantly minority residents have little access to any other federally insured financial institution. A.E.A.’s remarkable recovery was made possible through the collaborative efforts of (the) NCUA’s Region V staff, the new management team we put in place and the members who remained loyal to their credit union.”

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